BitMine hit a milestone after taking three weeks to surpass 1 million ETH, according to an on-chain data tracker, @lookonchain. DAT managed by Tom Lee (Digital Asset Treasury) continued its plan to generate Ethereum with another 109,504 ETH staked as of this morning (January 12).
In the last three weeks, Bitmine has invested more than $3.7Bn in Ethereum. With a current APY rate of 2.81%, BitMine is expected to earn approximately $103M in Ethereum yield rewards annually.
Tom Lee (@fundstrat) of #Bitmine 109,504 others $ETH($340.6M) in the last 2 hours.
Overall, #Bitmine now put it at 1,190,016 $ETH($3.7B). pic.twitter.com/HHUI11YsT7
– Lookonchain (@lookonchain) January 12, 2026
This step is important because it shows that Ethereum is no longer dependent on mining. It works on a solid model, turning idle ETH into a digital bond. For everyday investors, this raises a simple question. Is Ethereum becoming the top yielding asset for institutions?
ETH USD held firm over the weekend and is trading +0.5% as the news spreads, suggesting the market is already pricing in increased institutional demand. This is in line with a broader trend where large firms are now treating ETH less as a tradable asset and more as a yield-producing asset.
What Does Bitmine Staking Over 1M ETH Really Mean For Ethereum Price?
While the focus may sound intimidating and overly technical to those unfamiliar with blockchain technology, the concept is simple. You stake ETH to help operate and secure the Ethereum network, and the network pays you back.
Think of it like putting cash into a high-yield savings account. You can’t touch it for a while, but you get interest for helping the bank run. In Ethereum’s case, that ‘bank’ is the blockchain itself.
According to Arkham Intelligence, BitMine has now deposited a total of 1,190,016 ETH, which is worth approximately $3.7Bn at the current Ethereum price of $3,100.
BitMine closed at 109,000 ETH this morning, underscoring the company’s commitment to the mainstream adoption of Ethereum. By 2025, BitMine Chairman Tom Lee announced that the company has a long-term goal of acquiring and depositing 5% of the total value of Ethereum.
As of now, BitMine holds more than 4.1M ETH, which is worth about $12.8Bn, and accounts for 3.433% of the total amount of Ethereum. Since the company is less than 1.6% away from its 5% goal, it is reasonable to expect that this target will be reached sometime in 2026.
Although BitMine is in the news for all the right reasons at the moment, its BMNR price has dropped -23.734% in the last 30 days, according to Yahoo Finance data.
Active investors will be watching for stock movements when US markets open later today, with many hoping for a greener day following the Ethereum news.
(SOURCE: Yahoo Finance)
FIND OUT: 12 Up and Coming Coinbase Lists to Watch in 2026
Institutional ETH Staking is entering the Mainstream as Ethereum Yield becomes a big game
BitMine now sits among a growing group of firms using Ethereum as an asset of wealth, not just a speculative bet. The company now holds more than 4M ETH in total and reiterated its long-term goal of having a meaningful share of the total Ethereum supply.
This mirror is from other players. Grayscale has just started distributing large rewards to investors, the first of the ETH products to be listed in the US, which I reported on last week, here. That sends a clear message. Institutions are now expecting a yield, not just an increase in the price of Ethereum.
We’ve seen this play out before. Bonds have been replaced by cash. Dividends have replaced idle capital. Ethereum is now playing that role in crypto and surpassing Bitcoin, the leading digital asset, which does not provide yield to investors due to its lack of a solid protocol.
If you want a broader example, SharpLink’s recent ETH strategy showed how firms turn locked ETH into predictable income. You can read more about the institution’s ETH holdings here.
Why Banning ETH Changes Supply Dynamics and Associated Risks
BlackRock files for Ethereum staking ETF – How is it different from Grayscale’s Staking ETP?
If you remember, Grayscale introduced the $ETH Staking ETP back in early October 2025, and that news came close to the peak of the ETH chart (chart image)
– In fact, Greyscale’s ETH… pic.twitter.com/TAgFUfQWDJ
— David Arnal (@davidarngar) December 9, 2025
Here is the quiet part that beginners tend to miss. Deposited ETH cannot be sold immediately. When companies invest millions of ETH with that delicious Ethereum yield, that supply leaves the market liquid. Fewer coins remain in circulation, which in turn tightens the available supply during times of increased demand, thereby reducing selling pressure.
That’s why big waves have big value even when prices don’t jump right away. They are reshaping Ethereum down over time. It also explains the growing queue of shares, which now exceeds 1 million ETH in the backlog. We’ve covered those variables in our Ethereum stacking breakdown.
Bigger staking numbers can be reassuring, but they don’t eliminate risk. BitMine stock is still trading more than -80% below its peak after 2025 is brutal for crypto treasury companies.
Deposited ETH also remains closed during the crisis. When the markets crash, you cannot sell quickly because of the dynamic opening time. That makes staking safe for patient money and suppresses short-term speculators. This is the same rule we repeat over and over again. The harvest does not take away weakness, but it rewards patience.
Ethereum is now sitting at an interesting crossroads. With more ETH locked in to generate, the network looks less like a casino slot machine and more like a digital infrastructure that pays dividends. For beginners, the lesson is simple. Understand staking before rushing. And never lock up money that you may need to access in a pinch.
CHECK: 99Bitcoins’ Q4 2025 State of Crypto Market Report
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