Coinspeaker
Jan 20, 2026
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BitMine Stakes $277M More in ETH Amidst Ethereum Activity Concerns

BitMine Expands Staking Portfolio

  • BitMine, led by Tom Lee, staked an additional 86,848 ETH, worth approximately $277.5 million.
  • Total staked ETH by BitMine is now 1,771,936, valued around $5.66 billion.
  • Tom Lee aims for BitMine to become the largest staking provider, projecting annual revenue of $374 million.
  • Supported by Founders Fund and ARK Invest, BitMine holds the largest Ethereum treasury globally.

Surge in Staking Demand

  • Ethereum staking demand is increasing, with the entry queue reaching about 2.7 million ETH as of Jan. 20.
  • The exit queue has significantly dropped, reducing short-term selling risks.
  • A new wallet withdrew 3,300 ETH from Bybit, indicating active market positioning.

Activity Concerns

  • Active Ethereum addresses doubled to 8 million recently; daily transactions exceeded 2.8 million.
  • Security concerns arise due to potential address poisoning attacks, made cheaper by reduced network fees after the Fusaka upgrade.
  • Network fees have decreased over 60%, lowering costs for potential spam activities.