Ethereum validators entering the queue are approaching 1 million ETH.
TL;DR
BitMine's recent large ETH staking addition pushes Ethereum validator queue near 1 million ETH, with a 17-day wait time. Institutional activity like BitMine's expansion and high staking levels influence network dynamics and potential ETH price upside.
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On January 3, BitMine Immersion Technologies added another 82,560 ETH, worth approximately $259 million, to the Ethereum staking system, pushing the number of Ethereum validators in the queue to nearly 1 million ETH. The expected waiting time for new validators is close to 17 days.
On-chain data shows that BitMine currently has a total of 544,064 ETH staked, worth approximately $1.62 billion at the current price. The company began large-scale ETH staking on December 26, 2025, and plans to expand its staking scale in the first quarter of 2026 through its self-built MAVAN (Made in the USA validator network).
Influenced by the continued entry of institutions such as BitMine, approximately 977,000 ETH have entered the Ethereum validator queue, while only about 113,000 ETH have left the queue. Currently, a total of 35.5 million ETH are staked across the network, accounting for approximately 29% of the total supply, with an annualized staking yield of approximately 2.54%.
In addition, BitMine Chairman Tom Lee is pushing the company to increase the number of authorized shares to 50 billion to counter potential stock price surges caused by rising ETH prices, and has hinted that ETH prices could have significant upside potential in an extreme bull market scenario.