Bitmine deposits 219 million dollars in ETH into the Ethereum staking contract for the first time

Source: Yellow Original Title: Bitmine deposits 219 million dollars in ETH into Ethereum’s staking contract for the first time

Original Link: https://yellow.com/es/news/bitmine-deposita-219-millones-de-ddollars-in-eth-in-ethereum-staking-contract-for-the-first-time Ethereum’s treasury firm Bitmine has deposited 74,880 ETH worth 219 million dollars into Ethereum’s proof-of-stake (proof-of-stake) system, marking its first staking activity.

The world’s largest public Ethereum treasury holder started staking operations this week after accumulating over 4 million ETH without generating yield.

Bitmine now owns approximately 3.37% of the total Ethereum supply, valued at 11.9 billion dollars at current prices.

The company aims to eventually control 5% of all circulating ETH.

What happened

On-chain data from Arkham Intelligence shows that multiple wallets linked to Bitmine transferred ETH to a contract labeled “BatchDeposit” on Sunday.

The deposit of 74,880 ETH represents the company’s first move toward staking after months of passive accumulation.

Bitmine confirmed on December 21 that its holdings reached 4,066,062 ETH after a week of aggressive buying.

The company added 98,852 ETH in seven days at an average price of 2,991 dollars per token.

With Ethereum’s current staking yield of approximately 3.12%, Bitmine could generate nearly 371 million dollars in annual ETH rewards if it stakes all its treasury.

President Tom Lee stated that the company continues to advance its Made in America Validator Network (MAVAN), which is scheduled for deployment in early 2026.

MAVAN will serve as Bitmine’s proprietary staking infrastructure, turning passive holdings into yield-generating assets.

In November, the company announced it selected three institutional staking providers for a pilot program to test performance and security before scaling operations.

Why it matters

Bitmine’s entry into staking represents one of the largest institutional staking initiatives in Ethereum’s history.

The move shifts the company’s strategy from relying solely on ETH price appreciation to generating operational income through network participation.

This approach addresses investor concerns about unrealized losses of Bitmine, estimated between 3.5 and 4.2 billion dollars while ETH trades below 3,000 dollars.

The company’s (BMNR) shares have risen over 600% since launching its Ethereum treasury strategy in June 2025.

Still, the shares are trading at approximately 0.80 times their book value, with a 20% discount to net asset value.

Bitmine’s aggressive accumulation raises questions about market concentration.

Its 3.37% stake of the supply makes it one of the most powerful individual actors within the Ethereum ecosystem.

The company revealed total crypto and cash holdings of 13.2 billion dollars as of December 21, positioning it as the second-largest digital asset treasury in the world, behind only Strategy’s bitcoin holdings.

Ethereum trades near 2,928 dollars, down 1% in 24 hours, as the market awaits catalysts for a new bullish price momentum.