{"id":348,"date":"2026-05-06T14:09:42","date_gmt":"2026-05-06T14:09:42","guid":{"rendered":"https:\/\/1stblock.info\/?p=348"},"modified":"2026-05-06T14:09:42","modified_gmt":"2026-05-06T14:09:42","slug":"tom-lees-bitmine-crosses-10b-in-staked-eth-becomes-ethereums-no-2-validator","status":"publish","type":"post","link":"https:\/\/1stblock.info\/?p=348","title":{"rendered":"Tom Lee&#8217;s BitMine Crosses $10B in Staked ETH, Becomes Ethereum&#8217;s No. 2 Validator"},"content":{"rendered":"\n<p>BitMine Immersion Technologies, the digital asset treasury company chaired by Fundstrat&#8217;s Tom Lee, has surpassed <strong>$10 billion<\/strong> in staked <strong>ETH<\/strong> holdings, <em>according to a May 4 report from The Block<\/em>. The position now represents roughly <strong>4.3%<\/strong> of the circulating Ethereum supply, making BitMine the second-largest staking entity on the network behind only Lido.<\/p>\n\n\n\n<p>The DAT company has rapidly amassed its position to become Ethereum&#8217;s second-largest staking entity, with the latest tranche financed by a <strong>$240 million<\/strong> weekly <strong>ETH<\/strong> purchase that marked the firm&#8217;s third consecutive week of acquisitions above 100,000 <strong>ETH<\/strong>. Lee has publicly framed the buying as the early phase of what he calls a &#8220;crypto spring&#8221;.<\/p>\n\n\n\n<p>The accumulation comes against a constructive macro backdrop for Ethereum. <strong>BTC<\/strong> sits near <strong>$81,000<\/strong> following five consecutive weeks of spot-ETF inflows, and <strong>ETH<\/strong> is trading around <strong>$2,370<\/strong> \u2014 still roughly 51% below its 2025 peak but rising as institutional vehicles broaden their staking exposure. <em>Per Coinbase data<\/em>, <strong>ETH<\/strong>&#8216;s market capitalization has climbed back above <strong>$285 billion<\/strong>.<\/p>\n\n\n\n<p>The structural shift behind BitMine&#8217;s move is the launch of staked <strong>ETH<\/strong> ETFs in the U.S. earlier this year. <strong>BlackRock<\/strong>&#8216;s ETHB, the first major U.S. staked Ethereum ETF, went live on Nasdaq in March 2026 and currently distributes <em>roughly 1.9\u20132.2% net annual yield<\/em> to shareholders after fees, paid monthly. That changed the buyer pool: traditional investors who previously avoided <strong>ETH<\/strong> for its lack of yield are now able to access staking rewards through a wrapped product.<\/p>\n\n\n\n<p>Approximately <strong>30%<\/strong> of total <strong>ETH<\/strong> supply is now locked in staking, and the validator entry queue has lengthened materially over the past month. With <strong>Glamsterdam<\/strong> \u2014 Ethereum&#8217;s next major hard fork featuring Enshrined Proposer-Builder Separation and a planned gas-limit floor of 200 million \u2014 targeted for H1 2026, the convergence of treasury accumulation, ETF-driven yield demand, and execution-layer scaling sets up Ethereum&#8217;s most concentrated catalyst window since the Merge.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BitMine Immersion Technologies, the digital asset treasury company chaired by Fundstrat&#8217;s Tom Lee, has surpassed $10 billion in<\/p>\n","protected":false},"author":2,"featured_media":349,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/posts\/348","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=348"}],"version-history":[{"count":1,"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/posts\/348\/revisions"}],"predecessor-version":[{"id":350,"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/posts\/348\/revisions\/350"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/media\/349"}],"wp:attachment":[{"href":"https:\/\/1stblock.info\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}