BitMine Stakes Over 1 Million Ethereum, Valued at $268.7 Million
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 12 2026- Staking Milestone: BitMine staked 86,400 Ethereum on Saturday, pushing its total to 1,080,512, generating approximately $94.4 million annually at a 2.81% yield, which underscores its leadership position in the Ethereum market.
- Market Challenges: Despite BitMine's stock plummeting over 80% from its July 2025 peak of $161 to a current price of $30.06, the company maintains $915 million in cash reserves, indicating resilience amid market volatility.
- Shareholder Proposal: Chairman Tom Lee proposed increasing the authorized share limit from 50 million to 50 billion, which does not imply immediate issuance of all shares but aims to keep the share price around $25 as the company's valuation fluctuates.
- Strategic Acquisition: In early 2026, BitMine purchased $105 million worth of Ethereum, continuing its accumulation strategy in the cryptocurrency market, reflecting confidence in Ethereum's future growth potential.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
