Ethereum Treasury Firm Initiates Large-Scale Staking of Ether
Bitmine, a leading Ethereum treasury management firm, has begun staking its substantial holdings of Ether, depositing nearly $219 million worth of ETH into Ethereum’s proof-of-stake (PoS) network. The move marks the company’s first significant foray into active staking, reflecting increased institutional interest in Ethereum’s evolving ecosystem.
Over the weekend, blockchain analytics revealed multiple transfers from wallets associated with Bitmine to a contract labeled “BatchDeposit.” According to on-chain data from Arkham, these transactions aggregated approximately 74,880 ETH, a pattern commonly associated with institutional staking operations designed to prepare validator nodes systematically.
EmberCN, an on-chain analytics provider, commented on Twitter: “The largest Ethereum treasury company Bitmine (BMNR) has finally started attempting to stake its held ETH to earn interest income.” They further noted that Bitmine now holds around 4.066 million ETH, which at an estimated annual percentage yield (APY) of 3.12%, could generate approximately 126,800 ETH annually—worth over $371 million at current prices.
Historical context underscores this move, as Bitmine’s ETH holdings recently surpassed 4 million tokens. Following a $40 million purchase earlier this week, the firm’s total ETH holdings now exceed 4.06 million, acquired at an average price close to $2,991 per ETH. Over the past week, Bitmine has increased its stash by nearly 100,000 ETH, exemplifying its commitment to Ethereum’s staking ecosystem.
In November, Bitmine announced plans to launch Ethereum staking in early 2026 through its in-house “Made-in-America Validator Network” (MAVAN). The initiative involves a pilot program with three institutional staking providers to evaluate performance, security, and operational robustness before full-scale deployment.
Ethereum’s Total Value Locked Set to Surge
Industry experts project Ethereum’s total value locked (TVL) could increase tenfold by 2026. Joseph Chalom, co-CEO of Sharplink Gaming—already the second-largest public Ethereum treasury holder with nearly 798,000 ETH—highlighted the expanding institutional participation and emerging on-chain use cases as underlying drivers.
Chalom identified stablecoins as a key catalyst, estimating the stablecoin market could reach $500 billion by the end of next year—a 62% increase from current levels. Since over half of stablecoin activity occurs on Ethereum, ongoing issuance and transaction growth are poised to significantly enhance the network’s TVL, fostering broader DeFi adoption and stability.
