Bitmine starts staking ETH, deposits $219M into Ethereum PoS
Bitmine has started staking Ether, moving nearly $219 million worth of ETH into Ethereum’s proof-of-stake (PoS) contract.
On Sunday, several wallets associated with Bitmine sent large Ether (ETH) transactions to a contract labeled “BatchDeposit,” according to on-chain data from Arkham. The transfers totaled 74,880 ETH, a structure commonly used by institutional staking operations that pool funds before creating validators.
On-chain analyst EmberCN said on X that Bitmine (BMNR), described as the largest Ethereum treasury holder, has begun staking its ETH for the first time. EmberCN estimated Bitmine’s holdings at 4.066 million ETH and cited an approximate annual percentage yield (APY) of 3.12%. If the entire balance were staked, annual rewards could total about 126,800 ETH, worth roughly $371 million at a price of $2,927 per ETH.
Bitmine’s Ether holdings exceed 4 million tokens
The deposits coincide with Bitmine’s Ether treasury surpassing 4 million tokens for the first time. Earlier this week, the firm said its holdings now exceed 4.06 million ETH following a $40 million purchase. Over the past week, Bitmine added nearly 100,000 ETH at an average acquisition price of $2,991 per token.
In November, Bitmine said it plans to begin Ether staking in the first quarter of 2026 via an in-house platform called the Made-in America Validator Network (MAVAN). At that time, the company selected three institutional staking providers for a pilot program, using a limited portion of its ETH to evaluate performance, security, and operations before expanding.
Ethereum TVL could rise 10× in 2026
Ethereum’s total value locked (TVL) could increase tenfold in 2026 as institutional involvement grows and new on-chain use cases develop, according to Joseph Chalom, co-CEO of Sharplink Gaming. Sharplink is the second-largest public holder of an Ethereum treasury, with nearly 798,000 ETH valued at about $2.33 billion.
Chalom highlighted stablecoins as a primary driver, forecasting the market could reach $500 billion by the end of next year, up roughly 62% from current levels. With more than half of stablecoin activity already on Ethereum, continued issuance and transaction growth could materially lift the network’s TVL.
Stay informed, read the latest news right now!
Disclaimer
The content on TrustsCrypto.com is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile, always do your own research before making decisions.
Some content may be assisted by AI and reviewed by our editorial team, but accuracy is not guaranteed. TrustsCrypto.com is not responsible for any losses resulting from the use of information provided.
