BitMine Immersion Technologies staked an additional 86,400 Ether (ETH) on Saturday, worth about $268.7 million at the time, pushing its total staked ETH past 1 million to 1,080,512, as data shows and onchain analysis by Lookonchain confirmed. The 86,400 ETH was placed in four separate transactions, according to the Arkham Intelligence record.
Staking locks tokens to help secure proof-of-stake networks and generates yield paid in the network’s native token. The added stake increases BitMine’s ETH holdings that earn staking rewards.
Market analyst Nic Puckrin said “BitMine has now staked about $3.3 billion worth of ETH. At the current 2.81% yield, that generates roughly $94.4 million per year in ETH.” He also added “Obviously, Bitcoin doesn’t produce cash flow,” and asked “If another crypto winter hits and debt comes due, does holding a stakeable asset change who weathers it better?”
The company’s stock has fallen sharply from its July 2025 peak, trading at about $30.06 per share and down more than 80% from the $161 all-time high, according to market data.
In early January 2026 Tom Lee urged shareholders to approve raising authorized shares from 50 million to 50 billion — a 1,000x increase — in a presentation available on YouTube. Lee said the change would allow future stock splits to keep the per-share price near $25, a concept illustrated in a stock-split chart, and he clarified that increasing authorization does not necessarily mean shares will be issued.
