Crypto treasury company BitMine Immersion Technologies (BMNR) staked an additional 86,400 Ether (ETH) on Saturday, valued at about $268.7 million at the time of this writing, crossing the 1 million staked ETH milestone.
The 86,400 ETH was staked in four separate transactions, according to data from crypto market analytics platform Arkham Intelligence; this brings BitMine’s total to 1,080,512 staked ETH, onchain analysis platform Lookonchain said.
Staking is the process of pledging or locking up crypto tokens by validators or third-party staking service providers to secure proof-of-stake blockchain networks.
Staking in crypto produces yield for the validator or investor, who has delegated stake via a third-party provider, paid in the native token of the blockchain network being secured.
“BitMine has now staked about $3.3 billion worth of ETH. At the current 2.81% yield, that generates roughly $94.4 million per year in ETH,” market analyst Nic Puckrin said.
“Obviously, Bitcoin doesn’t produce cash flow, Puckrin added, and asked, “If another crypto winter hits and debt comes due, does holding a stakeable asset change who weathers it better?”
The milestone was crossed following a turbulent year for crypto treasury companies, with some shedding over 90% of their value from their all-time highs.
BitMine’s stock is down over 80% from its all-time high of $161 per share, reached in July 2025, and is trading at $30.06 per share at the time of publication.
Related: BitMine buys $105M Ether to kick off 2026, still holds $915M in cash
BitMine chairman asks shareholders to approve a 1000x increase in authorized shares
In early January 2026, BitMine chairman Tom Lee urged shareholders to vote yes on a proposal to increase the authorized share limit to 50 billion shares.
The proposal would raise the number of shares BitMine is allowed to issue from 50 million to 50 billion — a 1000x increase.
Increasing the authorized share limit does not necessarily mean the company will issue those shares, Lee clarified.
Raising the authorized share limit will accommodate future stock splits to keep Bitmine’s price-per-share affordable at about $25 per share, he said.
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