Bitmine, the largest corporate holder of Ethereum, has officially entered ETH staking by depositing 74,880 ETH into the Ethereum Proof-of-Stake network. The move marks a shift in how the company manages its massive Ethereum treasury, focusing on generating yield rather than holding assets passively.
The staking initiative comes as Bitmine faces billions of dollars in unrealized losses tied to Ethereum’s recent price weakness. Even so, the company continues to double down on its long-term Ethereum strategy, signaling confidence in the network’s future.
On-chain data from EmberCN shows the ETH transfer, worth roughly $219 million, represents Bitmine’s first confirmed staking allocation. With estimated annual yields around 3.2%, the company could generate substantial Ethereum-denominated income while also contributing to network security.
Bitmine had previously outlined plans to expand staking through its Made in America Validator Network (MAVAN). CEO Tom Lee stated:
“We plan to partner with one or more of these pilot partners plus world-class infrastructure providers to scale our own “Made in America Validator Network” (MAVAN) over the coming quarter.”
Despite recent stock weakness, Bitmine continues to accumulate Ethereum aggressively, now holding approximately 3.4% of total supply as it moves closer to its long-term 5% target.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
