The post BitMine’s ETH buying spree is clogging Ethereum’s staking pipes: What comes next? appeared on BitcoinEthereumNews.com.

A $130 million ETH purchase puts BitMine further ahead of its corporate rivals, but the influx lands just as Ethereum’s staking entry lines hit multi-day highs, squeezing validator activation timelines. Now, the question isn’t just who’s buying, it’s who can even move their coins anymore. Summary BitMine purchased $130 million in ETH, increasing its corporate holdings to 1.15M ETH. Ethereum validator queues hit multi-day highs, delaying staking entry and exit timelines. Meanwhile, South Korean retail investors are shifting from Tesla and tech stocks into BitMine and other crypto-related equities. On August 15, a wallet tagged as belonging to BitMine received five large Ether (ETH) transfers totaling approximately 28,650 ETH (worth $130 million) from Galaxy Digital’s over-the-counter desk. The transactions, tracked via the Arkham Intelligence dashboard, landed in BitGo-custodied wallets. BitGo is a U.S.-regulated provider of institutional-grade storage solutions, currently safeguarding over $100 billion in digital assets. The move follows BitMine’s recent announcement of a $24.5 billion stock offering, explicitly earmarked for expanding its ETH treasury, now valued at $5 billion. While sizable by any measure, the latest inflow carries broader weight in today’s market context. BitMine already holds the largest corporate ETH treasury on record, and each addition compounds its influence on Ethereum’s supply and staking dynamics. Corporate ETH hoarding meets staking congestion Following its latest $130 million purchase, BitMine’s Ethereum stash now stands at roughly 1.15 million ETH, worth over $5 billion at current prices, according to Arkham data. That figure eclipses every other corporate holder, including SharpLink’s 728,804 ETH, The Ether Machine’s 345,400 ETH, and even the Ethereum Foundation’s 231,600 ETH, according to StrategicETHReserve.xyz data. BitMine has stated that all of its holdings are staked for yield. This posture not only removes coins from circulating supply but also embeds the firm more deeply into Ethereum’s validator economy. That…

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Filed under: News - @ August 16, 2025 12:26 am