BitMine Stakes 3.49M ETH Valued at $8.13B, Locking Up 70% of Its Holdings

BitMine is deepening its long-term bet on Ethereum by expanding its holdings and moving a growing share into staking, a strategy that tightens available supply while generating yield. Led by Tom Lee, the firm has continued to accumulate ETH through varying market conditions and now controls more than 4% of Ethereum's circulating supply, placing it among the ecosystem's most significant institutional holders. Data cited by Lookonchain shows BitMine recently staked an additional 93,600 ETH—worth about $218 million—via Coinbase Prime, executed in several large batches. Total staked holdings have climbed to roughly 3,489,469 ETH, valued at about $8.13 billion at current prices. BitMine has now staked over 70% of its total ETH holdings, an unusually high ratio for an institution. While many large holders keep assets liquid to react quickly to volatility, BitMine is locking up most of its position, reducing the amount of ETH available for trading on exchanges. A smaller liquid float can, over time, curb selling pressure and influence price behavior. The staking-heavy approach also signals confidence in Ethereum's long-term utility and network growth, while allowing the firm to earn staking rewards without trimming exposure. A commitment of this size also supports network security, as staked ETH underpins validator operations. Market participants continue to monitor the firm's accumulation and staking activity as a gauge of institutional conviction in Ethereum's longer-term outlook. The post "BitMine Locks Massive Ethereum Holdings as Staking Push Tightens Supply" appeared first on 36Crypto.