Ethereum digital asset treasury BitMine recently deposited 186,560 tokens worth approximately $625 million to the Beacon Chain. This significant deposit brings the firm's total staked holdings to 1,530,784 Ethereum, valued at roughly $5.13 billion.
The latest deposit represents 4% of the 36 million Ethereum staked across the Beacon Chain network. BitMine Immersion Technologies, chaired by Fundstrat analyst Tom Lee, transferred the tokens to the Beacon Depositor address, according to blockchain analytics platform Lookonchain.
The company holds just over 4 million Ethereum in total, meaning 37% of its Ethereum position now earns staking rewards. BitMine crossed the 1 million staked token milestone earlier this week before rapidly expanding its validator presence with the new six-figure deposit.
BitMine's Broader Holdings and Market Context
Monday disclosures showed BitMine controlling 4,167,768 Ethereum alongside 192 Bitcoin, nearly $1 billion in cash reserves, and a $23 million equity position in Eightco Holdings. The staking expansion comes as Ethereum's validator entry queue reached 2.3 million tokens, the highest level observed since August 2023.
Market Performance and Analyst Outlook
BitMine stock climbed 3.8% to $32.35 in after-hours trading on Tuesday, according to Google Finance data. Share prices have gained 11.5% year-to-date as cryptocurrency markets recovered from fourth quarter turbulence.
Lee maintains a bullish outlook on Ethereum and broader crypto markets for 2026. He characterized the recent period as a "mini crypto winter" following October's leverage reset. He projects that 2026 will see price recovery with stronger gains materializing through 2027 and 2028.
Ethereum Price Movement
Ethereum price surged 7% on Wednesday, marking the asset's largest single-day gain in 2026. The token reached $3,375 on Coinbase during early trading, its highest level since Dec. 10. However, it requires a decisive break above $3,400 to establish meaningful upward momentum beyond the current two-month sideways channel.