Bitmine, an Ethereum treasury firm, has initiated staking of its Ether holdings by depositing approximately $219 million into Ethereum's proof-of-stake (PoS) contract. This significant move follows Bitmine surpassing 4 million ETH in holdings, now totaling around 4.066 million ETH.
Onchain data reveals that multiple wallets associated with Bitmine transferred 74,880 ETH to a contract named “BatchDeposit,” indicating a strategy typically employed by institutions for staking. If all their ETH were staked, it could generate an estimated 126,800 ETH in interest over a year, valued at around $371 million based on current prices.
Recently, Bitmine confirmed a $40 million acquisition of Ether, which contributed to the increase in its treasury. The firm had announced plans to launch its own staking setup, the Made-in America Validator Network (MAVAN), in the first quarter of 2026, after conducting a pilot program with selected institutional providers.