BitMine Doubles Down on Ethereum Staking With Additional $260 Million Staked
Tom Lee’s BitMine has locked up nearly $1.6 billion of its Ethereum treasury in staking contracts in just one week, positioning the firm as a major network validator.
The move further shifts BitMine from a passive ETH holder as it prepares for a major expansion of its authorized share count.
BitMine Locks Up Nearly 550,000 ETH in a WeekThe corporate holder deposited an additional 82,560 ETH into staking protocols on January 2, according to blockchain data tracked by Lookonchain.
Tom Lee(@fundstrat)'s #Bitmine staked another 82,560 $ETH($259M) 4 hours ago.
In total, #Bitmine has now staked 544,064 $ETH($1.62B).https://t.co/P684j5YQaG pic.twitter.com/3OItIe2k4d
This latest tranche brings its total staked inventory to approximately 544,064 ETH—roughly 13% of its 4.07 million ETH stockpile.
By committing these assets to the consensus layer, BitMine aims to generate yield on its holdings. The move effectively turns its balance sheet into a productive instrument rather than a static store of value.
However, the maneuver coincides with a sweeping proposal to restructure the company’s capital base to fund what management describes as an Ethereum “supercycle.”
In a January 2 post on X, BitMine Chairman Tom Lee requested approval to increase the company’s authorized shares from 500 million to 50 billion.