Bitmine has staked an additional 190,800 Ethereum, worth roughly $451 million, in a single transaction - its largest single stake to date. The move came as Ethereum traded quietly near $2,370, with most market attention focused on Bitcoin's rally above $80,000.
This latest deposit brings Bitmine's total staked ETH to 4.55 million, with a current value of $10.77 billion. That represents 88% of everything the company owns, now locked in Ethereum's validator infrastructure. Staked ETH cannot be sold on short notice, meaning this is not a trading position but a structural claim on the network.
By staking 3.7% of Ethereum's entire circulating supply, Bitmine is effectively removing a significant amount of ETH from the liquid sell side at an accelerating pace. The timing is notable: institutional commitments of this scale are planned and deliberate, not reactive to price.
On the price side, Ethereum is testing overhead resistance at $2,400-$2,500, a zone that aligns with the descending 100-day moving average. Volume has declined compared to the selloff phase, suggesting reduced selling pressure is driving the recovery more than aggressive buying. A break above $2,500 would confirm a trend shift; failure to hold $2,250 support could send price back toward $2,000-$2,100.