BitMine further increases the impact of staking on the market:

On January 3, 2026, BitMine staked an additional 82,560 ETH (worth approximately $259M), bringing the total staked amount to 544,064 ETH, pushing the Ethereum validator queue close to 1 million ETH.

Structurally, every ETH that enters staking is a direct freeze of the circulating supply.

As new demand continues to enter while circulating tokens are systematically locked, the supply and demand curve for ETH will gradually evolve towards a "scarce asset" form, and the price sensitivity to marginal buying will also increase. This is one of the key conditions for Ethereum to enter a positive financial flywheel.

If we further assume:

When the ETH holdings of leading institutions like BitMine approach or even reach 5% of the entire network, their impact will no longer be just "passive staking," but will create a structural siphoning effect—

Including but not limited to:

1️⃣ Creating demonstration and follow-up pressure on other institutions

2️⃣ Forming a continuous siphoning effect on the circulating market

3️⃣ Amplifying the pricing power and narrative hierarchy of ETH

In this path, ETH is no longer just a "Gas asset," but is closer to a core underlying asset that is locked by institutions, consumed by the system, and allocated for the long term.

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