Grafa logo

BitMine locks $1B in Ether as corporates chase staking yield

Published Dec. 29 2025Last Updated Dec. 29 2025

Share

Corporate holders of Ethereum (CRYPTO:ETH) are increasingly locking up large portions of their Ether to earn staking yield, reducing the amount of ETH available on the open market.

The shift highlights a growing preference among corporates to treat Ether as a yield-bearing treasury asset rather than a purely speculative holding.

BitMine Immersion Technologies, the largest known corporate Ether holder, staked 342,560 ETH worth more than $1 billion over a two-day period ahead of Sunday, according to onchain data.

Ethereum staking requires participants to lock ETH into the network’s proof-of-stake system to help secure the blockchain in return for an annual yield estimated between 3% and 5%.

BitMine’s large staking move placed immediate pressure on Ethereum’s validator queues, creating a notable imbalance between new entrants and exits.

Data showed the validator entry queue almost doubled the exit queue for the first time in more than six months.

At the time of reporting, the entry queue stood at 12 days and 20 hours, with 739,824 ETH waiting to be staked.

The exit queue stood at 6 days and two hours, with 349,867 ETH awaiting withdrawal.

The widening gap suggests significantly more entities are committing Ether for long-term yield than preparing to withdraw and potentially sell.

Market observers often view a larger entry queue as a signal of growing confidence in Ethereum’s long-term prospects.

Corporate treasuries have emerged as some of the most active participants in this trend.

SharpLink Gaming, the second-largest corporate Ether holder, reported that it staked nearly all of its ETH holdings.

The company said it has generated 9,701 Ether worth around $29 million from staking rewards based on its internal dashboard.

The Ether Machine, the third-largest corporate holder with roughly $1.49 billion in Ether, has fully staked its onchain treasury.

The company previously disclosed that it consistently ranks among the top 5% of validators for staking reward efficiency.

The rising volume of staked ETH is steadily shrinking the pool of Ether that can be freely traded.

This supply reduction is widely viewed as supportive for long-term value accrual in Ethereum.

Despite the corporate accumulation, some professional traders are trimming exposure.

Smart money wallets tracked by blockchain analytics platforms sold a combined $4.26 million worth of spot Ether over the past week.

In contrast, whale wallets accumulated approximately $11.6 million worth of Ether during the same period.

Public figures added close to $6 million in spot Ether, while newly created wallets purchased more than $517,000.

The mixed flows indicate diverging strategies between short-term traders and long-term institutional and retail buyers.

At the time of reporting, Ethereum price was $2,922.82.