Bitmine intends to hold 5% of Ethereum’s total supply

Bitmine, an Ethereum treasury company, has initiated Ethereum staking, allocating approximately $219 million of its ETH holdings to the network’s proof-of-stake (PoS) system. According to Arkham, various Bitmine-linked wallets paid a large amount of Ether into a contract known as “BatchDeposit” on Sunday, approximately 74,880 ETH.

Before this, though, the company had never staked its holdings, despite owning one of the largest ETH treasuries in the market. It recently reached a 4 million token count, having purchased close to 100,000 ETH in the past week at an average cost of $2,991 per token, bringing its holdings back into profit as ETH moved above $3,000 over the weekend. 

Bitmine intends to hold 5% of Ethereum’s total supply

On-chain analyst EmberCN commented on Bitmine’s staking, saying, “The largest Ethereum treasury company BitMNR (BMNR) has finally started attempting to stake its held ETH to earn interest income. […] This is their first time staking, and they now hold 4.066 million ETH, with an approximate APY of 3.12%. If all of it were staked, they could earn about 126,800 ETH in interest over a year, which at the current price of $2,927 would be worth $371 million.”

Since June, the firm has been performing exceptionally well, with shares surging 606%, as investors back the company’s concentrated exposure to Ethereum’s long-term value. The firm’s chairman, Tom Lee, affirmed their success, noting that the firm is consistently increasing its Ethereum exposure, reaching 4 million tokens just five and a half months after rolling out the plan. 

The company still plans to hold 5% of all Ether in circulation. Currently, it holds about 3.37% of Ethereum’s total supply. Even in November, the company announced that it would start Ether staking in Q1 2026 on its own Made-in-America Validator Network, beginning with an initial pilot effort involving three institutional staking partners. Under the program, the goal would be to create more customer-generated investment value through staking, all in concert with the company’s fundamental accumulation plan.

Tom Lee estimates that Ethereum will reach $7,000 by early 2026

As year-end trading slows, ETH has remained between $2,900 and $3,000. Nonetheless, Lee is hopeful that by early 2026, Ethereum could reach $7,000–$9,000 through tokenization. Ethereum now has a market capitalization of $354 billion and is valued at $2,928, down approximately 1% over the previous 24 hours.

Joseph Chalom, co-CEO of Sharplink Gaming, also expects Ethereum’s total value locked (TVL) to grow tenfold by 2026 as institutions become more committed and new on-chain applications enter the market. Stablecoins are also fueling growth, he said, and he anticipated the market could grow to $500 billion by the end of next year, a 62% bump. With over half of stablecoin transactions hosted on Ethereum, constant issuance and activity could significantly drive its TVL higher. 

He also predicts that the stakes of sovereign wealth funds will rise five to ten times as tokenization expands, while Ethereum remains at the center (or basis) of blockchain development. He also noted that RWAs could surpass $300 billion by 2026, reflecting the increased participation of large financial institutions, including JPMorgan, Goldman Sachs, Franklin Templeton, and BlackRock.

He added, “Ethereum’s stronghold on stablecoins, RWAs, and the future of tokenized equities make it a core technology asset. It’s not only a bet on the future, it’s a hedge against globalization and technological shifts happening, and ensuring their principals stay involved in the economic upside.”

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