Is BitMine Poised to Become Ethereum's Michael Saylor as Staking Surpasses $1.3B?
In a period when the crypto market typically slows, BitMine Immersion Technologies (BMNR) is accelerating its Ethereum investments. The company recently staked an additional 118,944 ETH, valued at about $352.16 million, increasing its total staked Ethereum to a remarkable 461,504 ETH.
Now holding a staked value of $1.37 billion, BitMine is vigorously executing its "Alchemy of 5%" strategy, aiming to control a notable share of Ethereum's total supply.
The Staking Strategy Expands
On-chain analysts have identified a new wallet receiving 32,938 ETH, worth $97.8 million, from institutional broker FalconX. While the wallet remains officially unnamed, its transaction signature aligns with BitMine's recent $130 million acquisition spree, indicating continued accumulation by the leading Ethereum treasury.
BitMine's latest $352 million staking move marks a shift from speculative holding to a focus on sovereign yield by 2025. By staking 461,504 ETH, BitMine transforms its treasury into a revenue-generating entity, stabilizing its balance sheet while supporting the Ethereum network.
Ethereum: The Liquidity Leader of 2025
Data from Artemis in 2025 shows Ethereum leading Net Capital Inflows with over $4.2 billion in positive flows. Despite competitors like Hyperliquid and Solana focusing on other metrics, Ethereum's liquidity and mainnet–Layer 2 architecture make it the preferred platform for substantial corporate investments.
Market Dynamics
While ETH trades around $2,980 and BitMine's stock dips slightly to $27.15, the company's strategy mirrors Michael Saylor's Bitcoin-centric approach, but with a focus on Ethereum. BitMine added over 44,000 ETH to its holdings, raising its share of the network from 3.37% to 3.41%.
With a $13.2 billion balance sheet and $1 billion in cash reserves, BitMine is not just accumulating Ethereum; it is consolidating its influence in the market. If the current pace continues, BitMine could reach its target by late 2026.
Final Thoughts
- BitMine's control of over 4.11 million ETH signifies the creation of the first corporate-scale Ethereum treasury.
- This positions BitMine alongside Michael Saylor's Strategy Inc., but in the Ethereum arena.