BitMine stakes 87.9% of its Ethereum, locking $10.77B in ETH for yield amid rising staking demand.

BitMine Immersion Technologies has staked 87.9% of its Ethereum holdings, adding 190,800 ETH worth $451 million, bringing total staked ETH to 4,553,557 (valued at $10.77 billion). This move highlights strong demand for Ethereum staking, which has stabilized after a drop in April, supported by increasing validator activity. Despite a short-term rise in BitMine's stock price, a 16% decline this year raises caution. Ethereum's staking market still trails Bitcoin's in scale, with ETH Digital Asset Treasuries at $16.98 billion versus BTC's $149.07 billion, indicating room for growth.