BitMine further increased its holdings of Ethereum, depositing an additional 186,560 ETH into the beacon chain, bringing its total staked ETH to 1,530,784, worth approximately $5.13 billion. This move consolidates its position as the known largest enterprise Ethereum staker, controlling about 4% of ETH on the network. Meanwhile, competition for validator seats has become increasingly fierce, with the number of queued ETH soaring to 2.3 million. Shareholders are about to vote on a proposal to increase the company's authorized shares, and management stated that this move is crucial to avoid reaching the capital threshold and to continue acquiring ETH.