Treasury company BitMine Immersion Technologies (BMNR) staked an additional 86,400 Ether (ETH) on Saturday, worth approximately $268.7 million at the time of writing, surpassing the 1 million ETH staked threshold.
According to. 86,400 ETH was staked in four separate transactions data from the Arkham Intelligence cryptocurrency market analytical platform; this brings BitMine’s total to 1,080,512 ETH staked, Lookonchain onchain analytics platform he said.
Staking is the process of pledging or locking cryptographic tokens by validators or third-party staking service providers to secure a proof-of-stake blockchain network.
Cryptocurrency staking provides income to the validator or investor who has transferred the shares through a third-party provider, payable in the native token of the secured blockchain network.
“BitMine has currently staked approximately $3.3 billion worth of ETH. At the current yield of 2.81%, this generates approximately $94.4 million annually in ETH,” market analyst Nic Puckrin he said.
“Obviously Bitcoin doesn’t generate cash flow,” Puckrin added, and asked: “If another crypto winter hits and debt comes due, will having a betable asset make a difference, who can weather it better?”
The milestone comes after a tumultuous year for cryptocurrency companies, with some of them losing more than 90% of their value from their all-time highs.
BitMine shares are down more than 80% from their all-time high of $161 per share reached in July 2025, and at press time were trading at $30.06 per share.
Related: BitMine Buys $105M Ether for Early 2026, Still Holds $915M in Cash
BitMine’s CEO asks shareholders to approve a 1,000-fold boost in the number of authorized shares
In early January 2026, BitMine CEO Tom Lee he insisted shareholders to vote in favor of the proposal to boost the authorized share limit to 50 billion shares.
The proposal will boost the number of shares BitMine can issue from 50 million to 50 billion, a 1,000-fold boost.
Increasing the limit on authorized shares does not necessarily mean that the company will issue those shares, Lee explained.
Raising the authorized share limit will take into account future stock splits to keep Bitmine’s per-share price at an affordable level of about $25 per share, he said.
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