BitMine has expanded its Ethereum staking position again. Data tracked by on-chain analytics platform OnchainLens shows the Nasdaq-listed Ethereum treasury company restaked 171,264 ETH, valued in the source material at about $503.24 million. That lifts its cumulative staked holdings to 1,943,200 ETH, worth roughly $5.73 billion.
Based on the source, BitMine remains the largest Ethereum staking entity globally by size. The company has kept moving ETH from treasury holdings into staking, aiming to turn a large balance-sheet position into recurring staking income.
Total ETH holdings exceed 4.2 million
Beyond the ETH already committed to staking, BitMine now holds more than 4.2 million ETH in total, equal to about 3.48% of Ethereum’s total supply. Under chairman Tom Lee, the company has been increasing the share of its holdings deployed into staking. The scale is notable. So is the concentration.
The source also says BitMine is targeting eventual ownership of 5% of Ethereum’s total supply, a strategy compared with MicroStrategy’s Bitcoin accumulation model, but with staking cash flow added on top.
MAVAN launch is scheduled for Q1 2026
BitMine plans to roll out the “Made in America Validator Network,” or MAVAN, in the first quarter of 2026. The system is described as a high-security staking infrastructure built for institutional users. Tom Lee said that once the company’s ETH is fully staked through MAVAN and partner channels, annual staking revenue could reach $374 million based on the current 2.81% Composite Ether Staking Rate, or CESR. That would equal more than $1 million per day.
Lee’s statement in the source is direct: BitMine already has more ETH staked than any other entity globally, and full deployment into staking would create a sizable fee stream.
About $8 billion in ETH is waiting to enter staking
The latest BitMine move comes as capital keeps flowing into Ethereum staking. According to the source material, around $8 billion worth of ETH is currently waiting in the entry queue for the staking network, while the exit queue has nearly cleared. Heavy inflows and a light exit line have been read by the market as a bullish setup.
The article argues that more ETH locked in staking contracts reduces circulating supply and cuts potential sell pressure. It also points to the regulatory approval of staking ETFs in 2025. Pension funds and insurance capital have started allocating to ETH, the source says, partly because of 3.5% to 5% native-currency risk-free yield. Backers mentioned for BitMine include Cathie Wood of ARK Invest, Founders Fund, Pantera, and Galaxy Digital.