BitMine Immersion Technologies has made one of the most aggressive Ethereum moves of the year, purchasing 40,302 ETH in a single transaction—its largest ETH acquisition in 2026 so far. The announcement underscores a broader trend: corporate crypto strategies are shifting from “just holding” to actively extracting yield through staking and building infrastructure around Ethereum.

Largest 2026 ETH Purchase: What BitMine Bought

According to the company, BitMine’s new purchase totals 40,302 ETH, valued at roughly $116–$118 million at the time of disclosure. That scale is notable not only because it is a large single buy, but also because it signals continued conviction that Ethereum remains a core institutional settlement layer.

BitMine, chaired by Fundstrat’s Thomas “Tom” Lee, has described its accumulation plan as the “Alchemy of 5%”: an ambition to control 5% of all ETH in circulation. If pursued, that target implies sustained buying or capital raising—especially if ETH prices rise alongside increased institutional demand.

Staking Revenue Becomes the Business Model

The company is not positioning ETH solely as a treasury reserve. Instead, it is leaning into staking as a recurring revenue engine. BitMine says it has staked more than 2 million ETH—about half of its total holdings—seeking predictable yield in exchange for participating in network security.

Based on a composite Ethereum staking rate of around 2.81%, the company projected annual staking revenue in the neighborhood of $164 million for that staked amount. It also indicated that staking a larger share of its balance could materially increase annualized revenue, depending on the staking rate, price of ETH, and validator economics.

MAVAN: Bringing Validators “Made in America”

To reduce reliance on third-party staking providers and gain more control over its staking operations, BitMine plans to launch its own validator infrastructure—called the Made in America Validator Network (MAVAN)—in Q1 2026. If executed well, in-house validation can improve operational resilience, optimize fee structures, and strengthen governance over staking policies and compliance processes.

Wall Street’s Tokenization Thesis Keeps Growing

BitMine’s narrative ties closely to a broader institutional thesis: tokenization. In public remarks referenced by the company, leaders such as BlackRock CEO Larry Fink have argued that tokenization can reduce friction, lower costs, and modernize market plumbing—especially if a widely adopted blockchain becomes a universal settlement layer.

The company points to research suggesting Ethereum underpins a majority share of tokenized assets today, reinforcing the view that ETH is not merely “another crypto asset,” but a commodity-like resource powering transaction fees, smart contracts, and institutional issuance.

What This Could Mean for ETH in 2026

• More corporate ETH treasuries may prioritize staking and validator operations, not just passive holding
• Large buyers can tighten liquid supply, potentially amplifying price moves during demand spikes
• Tokenization narratives may keep Ethereum in the center of institutional strategy discussions
• Validator decentralization and compliance will remain key debates as institutions scale exposure

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Figures and projections depend on market conditions and may change.