According to reports from AMBCrypto, BitMine Immersion Technologies has significantly expanded its Ethereum staking operations, staking an additional 190,800 ETH worth $451 million. This brings the firm's total staked ETH to 4,553,557 ETH, valued at $10.77 billion. The company has now staked 87.9% of its total holdings, up from 77.2% by the end of April, with the staking rate crossing 87% in the first week of May. As reported by AMBCrypto, this represents the largest Ethereum Digital Assets Treasury (DAT) in terms of staked ETH. The latest data shows BitMine has now staked 4.36 million ETH, representing approximately 4.3% of Ethereum's entire circulating supply and making it the largest centralized Ethereum staker and second-largest staking entity overall, behind only Lido.
According to on-chain data reported by AMBCrypto, BitMine's total ETH holdings have reached 5,180,131 ETH, valued at $12.28 billion. This increase followed the addition of 101,745 ETH on May 4th. While Ethereum makes up 99.9% of the company's treasury, it also holds 198 BTC worth $15.97 million. As reported by CoinGecko, this diversification strategy provides additional exposure to the cryptocurrency market beyond Ethereum. The company's treasury structure reveals $1.1 billion in cash holdings and $14 million in Bitcoin holdings, providing dry powder for continued accumulation while the ETH position itself generates nearly $300 million annually in passive staking yield.
As reported by AMBCrypto, BitMine's stock price was trading at $22.79, up 4.16%, though the stock has declined 16% year-to-date. ETH was trading at $2,369.76 after gaining over 3% in the past week and 15% in the past month. The Ethereum validator queue activity over the past month has confirmed increasing demand for staking, with the number of validators waiting to join the network exceeding those waiting to leave. According to Validator Queue data, Ethereum staking demonstrated resilience even after temporary outflows in April. The company's aggressive accumulation strategy has created significant market impact, with BitMine becoming the 100th most traded stock in the US, averaging $920 million in daily volume. This liquidity allows whales to enter and exit positions without significant slippage, demonstrating the institutional-scale execution of their staking strategy.
According to AMBCrypto analysis, while ETH DATs have reached $16.98 billion, BTC DATs have significantly higher at $149.067 billion. This disparity suggests substantial room for Ethereum to grow to Bitcoin's level. ETH ETFs have recorded $12 billion in returns since launch, further reinforcing the positive sentiment. The staking strategy appears to be paying off as BitMine reaches the $10 billion milestone, though long-term stock performance data raises some concerns despite positive short-term trading activity. The company's $1.1 billion cash position provides additional flexibility for continued accumulation, while the $7 billion in paper losses demonstrates their commitment to holding through volatility rather than selling during market downturns.
