Bitmine Double Down on Eth. Stakes $219M Ethereum on Chain

In a major move for Ethereum’s institutional staking landscape, Bitmine, the largest Ethereum treasury company, has begun staking its Ether holdings. The company deposited approximately $219 million worth of ETH into Ethereum’s proof-of-stake (PoS) contract, marking a significant milestone for both Bitmine and the Ethereum ecosystem.

Massive ETH Deposit Into PoS System

On December 24, Bitmine sent a series of large Ether (ETH) transfers to a contract labeled “BatchDeposit,” totaling 74,880 ETH, according to onchain data from Arkham. This activity, which aligns with institutional staking strategies, indicates that Bitmine is preparing for validator creation. These transfers are part of the company’s broader plan to stake its Ether holdings and earn interest income.

Bitmine’s Ether Holdings Surpass 4 Million ETH

The deposit comes as Bitmine’s Ether treasury reaches a new high of over 4 million ETH. The firm confirmed earlier this week that its holdings now exceed 4.06 million ETH following a recent purchase of $40 million worth of Ether. Over the past week, the company added nearly 100,000 ETH to its balance, with an average purchase price of $2,991 per token. This growth solidifies Bitmine’s position as a dominant player in the Ethereum ecosystem.

Bitmine’s ETH Staking Strategy and Potential Earnings

With 4.06 million ETH under its control, the company is now positioned to earn interest from Ethereum’s PoS network. At an approximate annual percentage yield (APY) of 3.12%, Bitmine could earn about 126,800 ETH in interest over the next year. At today’s price of $2,927 per ETH, this would equate to an estimated $371 million in rewards.

This is Bitmine‘s first foray into staking, following their announcement earlier this year that they would begin staking in the first quarter of 2026. The firm intends to establish an in-house staking setup called the Made-in America Validator Network (MAVAN), and has already selected three institutional staking providers for a pilot program.

Ethereum’s Expanding Institutional Participation

Bitmine’s move into Ethereum staking is an indication of growing institutional interest in Ethereum’s PoS system. Since the total value locked (TVL) on Ethereum is already expanding, institutional presence is projected to rise tenfold by 2026. The emergence of stablecoins has primarily driven stablecoin growth, and Ethereum remains the most popular network for stablecoin operations. Ethereum staking and its ecosystem, in general, will undergo tremendous growth in the years to come as more institutions participate in the business the company creates.

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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and risky. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.