BitMine Immersion Technologies adds 82,560 Ether to Ethereum staking system, totaling $259 million. The move intensifies congestion in the validator entry queue as institutional demand for yield grows. BitMine now holds a total of 544,064 staked Ether, valued at $1.62 billion, according to onchain analyst Lookonchain.

BitMine began staking ETH on Dec. 26, transferring $219 million worth of ETH to staking-related contracts on the Ethereum network. In November, BitMine announced plans to start staking Ether in early 2026 through the Made-in-America Validator Network (MAVAN). The company selected three institutional staking providers for an initial pilot to evaluate performance before expanding the program.

Ether validator entry queue nears 1 million ETH, with an estimated wait time of nearly 17 days for new validators to become active. Exit activity remains light, with just over 113,000 ETH waiting to withdraw. Over 35.5 million ETH, or 29% of total supply, is now staked, with an annualized yield of 2.54%.

Tom Lee, chairman of BitMine, pushes for a massive share expansion to 50 billion, citing the need to accommodate future stock splits if Ether’s price drives BitMine’s valuation higher. Lee predicts scenarios in which Ether reaches $250,000 if Bitcoin climbs to $1 million, potentially pricing out most retail investors.

Read more at Cointelegraph: BitMine Stakes $259M More ETH as Validator Queue Nears 1M Ether