Bitmine begins staking ETH, deposits $219M into Ethereum PoS for yield
Bitmine deposited 74,880 ETH worth approximately $219 million into Ethereum’s Proof-of-Stake protocol, marking the company’s first staking operation.
The move comes as the largest Ethereum eth0.19%Ethereum treasury company seeks yield generation from its 4.066 million ETH holdings.$ETH
According to EmberCN monitoring, the deposit occurred on December 27. At an estimated 3.12% annual percentage yield, staking the entire treasury would generate roughly 126,800 ETH per year.
Based on Ethereum’s current price, the annual staking rewards would be worth approximately $371 million.
First staking deployment from 4M+ Ethereum treasury
The 74,880 ETH deposit is Bitmine’s initial entry into generating staking income from its holdings. The company accumulated its Ethereum position through systematic acquisitions similar to Strategy’s Bitcoin buying program.
Bitmine’s decision to stake suggests the company expects to hold Ethereum long-term rather than actively trade the position.
Staked ETH can be withdrawn but requires a queue period that varies based on network conditions. The lock-up period makes staking unsuitable for treasury assets that might need rapid liquidation.
The $219 million initial deployment tests the staking infrastructure before potentially committing the full treasury.
At 4.066 million ETH, Bitmine holds roughly $11.9 billion worth of Ethereum at current prices. Full staking would generate over 126,000 ETH annually in passive income.