Key Insights
- Bitmine now controls more than 3% of the Ethereum supply.
- The company already has over $1.2 billion worth of ETH, earning staking rewards.
- Meanwhile, the Ethereum price remains stuck between firm support and resistance.
Bitmine continues to double down on its Ethereum bet, with the firm now staking over $1.2 billion worth of ETH from its treasury.
This move comes as Ethereum trades sideways and awaits a clear price signal. Market data currently shows mixed behavior among holders. Still, Bitmine’s action is a strong long-term signal amid uncertainty.
Read More: Ethereum Price Analysis 2026
Bitmine Raises Confidence in Ethereum Holdings
Bitmine Immersion Technologies has quietly built one of the largest Ethereum positions ever seen. Recent disclosures show the firm holds 4.11 million ETH, and that figure equals about 3.41% of the total circulating supply.
This stash places Bitmine among the top corporate holders worldwide, and only Strategy, which focuses on Bitcoin, holds a larger crypto treasury.
Bitmine combines its ETH position with cash and other assets, bringing total holdings to $13.2 billion. Roughly 408,627 ETH from that balance now sits in staking contracts.
At current prices, the staked portion is worth more than $1.2 billion, and staking allows the firm to earn yield while supporting network security.
Tom Lee, chairman of Bitmine, described the plan as a long-range commitment. He expects staking returns to grow once the company finishes its validator rollout.
Staking Plans Expand Through MAVAN
Bitmine plans to grow staking further through its Made in America Validator Network, known as MAVAN with a launch set for early 2026.
The firm already works with three staking providers, and MAVAN aims to bring more control and scale to the operation. Once fully active, Bitmine expects to stake most of its ETH holdings.
Tom Lee estimates annual staking income could reach $374 million, and that figure uses a composite Ethereum staking rate of 2.81%. That said, daily revenue would exceed $1 million under those assumptions.
This strategy shows confidence in Ethereum’s long-term position, as staking locks supply and reduces liquid ETH available for sale. That factor often supports price stability even during slow markets.
Ethereum Holders Show Mixed Signals
Meanwhile, Ethereum holder behaviour currently paints a divided picture. Long-term holders have returned to accumulation after months of selling and data shows nearly five months of steady outflows ended recently.
Accumulation from long-term holders also often reduces heavy price swings. These investors tend to hold through volatility and their renewed interest indicates improving trust in Ethereum’s position.
Whales are also telling a different story. Addresses holding between 100,000 and 1 million ETH sold about 270,000 ETH over five days. At current prices, that sale equals more than $790 million.
Ethereum Price Stays Locked in a Tight Range
Ethereum trades around $2,940 at the time of writing, and price action appears to be compressed inside an asymmetrical triangle.
Resistance now sits near $3,000 while support rests close to $2,902, which means that each move toward either level is expected to meet strong reaction.
This pattern shows indecision as buyers lack enough strength to push higher and sellers fail to force a breakdown.
A clean break above $3,131 would confirm upside strength. Such a move could open the door for an early-year rally, but a failure to hold $2,902 would change the picture.
A drop below support could send ETH toward $2,796 and that scenario would weaken near-term confidence.
Disclaimer: BFM Times acts as a source of information for knowledge purposes and does not claim to be a financial advisor. Kindly consult your financial advisor before investing.
