BitMine Doubles Down on Ethereum Staking With Additional $260 Million Staked

Tom Lees BitMine has locked up nearly $1.6 billion of its Ethereum treasury in staking contracts in just one week, positioning the firm as a major network validator. The move further shifts BitMine from a passive ETH holder as it prepares for a major expansion of its authorized share count. BitMine Locks Up Nearly 550,000 ETH in a Week The corporate holder deposited an additional 82,560 ETH into staking protocols on January 2, according to blockchain data tracked by Lookonchain. Tom Lee's #Bitmine staked another 82,560 $ETH($259M) 4 hours ago. In total, #Bitmine has now staked 544,064 $ETH($1.62B). This latest tranche brings its total staked inventory to approximately 544,064 ETHroughly 13% of its 4.07 million ETH stockpile. By committing these assets to the consensus layer, BitMine aims to generate yield on its holdings. The move effectively turns its balance sheet into a productive instrument rather than a static store of value. However, the maneuver coincides with a sweeping proposal to restructure the companys capital base to fund what management describes as an Ethereum supercycle. In a January 2 post on X, BitMine Chairman Tom Lee requested approval to increase the companys authorized shares from 500 million to 50 billion. The annual shareholder vote deadline is Jan 14, 2026 at 11:59pm ET many asking why we want to increase authorized shares from 500mm to 50 billion (proposal 2) No, its not because $BMNR is about to dilute shareholders. While Lee framed the hundredfold increase as a mechanism to facilitate future stock splits and keep the share price near $25, the sheer scale of the authorization suggests broader ambitions. He notes that a 50 billion share ceiling provides BitMine with an enormous runway to conduct At-The-Market (ATM) equity offerings. This structure would allow BitMine to sell new stock to fund additional Ethereum purchases aggressively. He argued that BitMine could take advantage of the NAV premium, or the gap between the share price and the value of its underlying assets. However, it could also dilute existing shareholders. Nonetheless, Lee outlined scenarios in which ETH could reach $250,000, driven by Wall Streets tokenization trends. We believe Ethereum is the future of finance. A supercycle drive by Wall Street re-engineering on the blockchain. Major Wall Street leaders agree. BlackRocks Larry Fink said tokenization is the next evolution of global markets. And the vast majority of tokenization is happening on Ethereum, Lee said. At those valuations, BitMine argues its implied share price could reach $5,000, necessitating splits of up to 100-for-1 to maintain retail accessibility. Read the article at BeInCrypto