Bitmine has significantly increased its Ethereum staking portfolio by adding 109,504 ETH, valued at approximately $340 million. This move brings Bitmine's total staked Ethereum to over 1.19 million ETH, worth around $3.7 billion. The firm's strategy underscores its long-term confidence in Ethereum, particularly as the network continues its transition to proof-of-stake (PoS). The substantial staking by Bitmine, backed by Tom Lee, positions the firm as one of the largest validators on the Ethereum network. This not only supports the PoS mechanism but also allows Bitmine to earn staking rewards while enhancing the network's security and decentralization. Such large-scale staking could potentially reduce Ethereum's liquid supply, influencing its market price positively over time. Bitmine's actions reflect growing institutional confidence in Ethereum's stability and future growth potential.