Bitmine Deposits $219M in ETH to Join Ethereum PoS

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Ethereum treasury firm Bitmine has begun staking Ether after depositing nearly $219 million worth of ETH into Ethereum’s proof-of-stake system.

Ethereum treasury firm Bitmine has begun staking its Ether holdings depositing nearly $219 million worth of ETH into Ethereum’s proof-of-stake (PoS) system.

On Sunday, multiple wallets linked to Bitmine sent large Ether transfers to a contract labeled “BatchDeposit,” onchain data from Arkham shows. The transfers totaled 74,880 ETH, a pattern typically associated with institutional staking setups that aggregate funds before validator creation.

“The largest Ethereum treasury company Bitmine (BMNR) has finally started attempting to stake its held ETH to earn interest income,” EmberCN said in a post on X.

“This is their first time staking, and they now hold 4.066 million ETH, with an approximate APY of 3.12%. If all of it were staked, they could earn about 126,800 ETH in interest over a year, which at the current price of $2,927 would be worth $371 million,” the onchain analyst said.


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