Tom Lee’s BitMine Immersion Technologies staked another 150,120 Ethereum (ETH) tokens, worth roughly $278 million. The move deepens one of the largest corporate bets on Ethereum’s proof-of-stake network.
Blockchain analytics account Lookonchain flagged the transaction hours after it happened on August 4. It lifts BitMine’s total staked ETH to 5,067,309 tokens, worth about $9.38 billion. That figure equals 87.4% of the company’s entire ether stack.
Staking locks tokens into Ethereum’s validator network instead of leaving them idle in a wallet. Validators earn rewards for helping secure the chain. In exchange, they accept withdrawal queues and full price exposure for as long as the tokens stay locked.
A company that stakes nearly nine-tenths of its holdings is not hedging. It is committing to hold the position for years rather than trade around short-term price swings.
BitMine runs its staking through the Made in America Validator Network (MAVAN), an institutional platform the company built to generate yield on its own Ethereum treasury. It eventually plans to open MAVAN to outside clients too.
Chairman Tom Lee, who also co-founded research firm Fundstrat, has repeatedly framed the buildup as a wager on a multiyear “supercycle” for Ethereum.
The timing fits a broader institutional tilt toward ether. Ethereum ETFs recently posted their best month since October 2025, even as Bitcoin funds kept bleeding assets. BitMine’s own stock has rallied on the strategy, as investors reward the treasury bet.
Staking nearly 90% of a multibillion-dollar position leaves little room to reverse course quickly if sentiment turns. Ethereum needs to keep attracting institutional demand for that bet to pay off. BitMine has staked its balance sheet on exactly that outcome.
The post BitMine Stakes 87% of Its Ethereum Holdings in Fresh Conviction Bet appeared first on BeInCrypto.
Italy’s largest banking group, Intesa Sanpaolo, revealed a drastic 93.7% reduction in its common-share position in BlackRock’s iShares Bitcoin Trust (IBIT) as of June 30.
The Coldcard hardware wallet hack has grown to $116 million (potentially more) across four separate waves, and Coinkite says the last three days have been
Bitcoin’s price volatility within the $62,000-$64,000 range returned in the past 24 hours as the asset challenged both boundaries, only to be stopped twice. Most
Trump’s pressure on oil giants may lead to government intervention, affecting oil market dynamics and future pricing amid geopolitical tensions. The post „Nem tetszik ez
Blockchain Bodega is here and you know the vibes. We’re at the intersection of hip-hop culture and web3, exploring this new digital frontier. Who better to guide you through these uncharted lanes than Ock Chain – The Bitcoin Boss and the Consensus Corner Boys?
Ock Chain doesn’t just cook up random details about cryptocurrency; he lives it. Ock’s been deep in the game since Bitcoin was just a baby.
And let’s not forget about the Consensus Corner Boys. They’re our skilled crew of blockchain enthusiasts. They’re here to educate, entertain, and enlighten.
Welcome to Blockchain Bodega!
Copyright © 2023 Blockchain Bodega. All rights reserved.