CMC News

Bitmine Moves $219M Worth of Ethereum Into Staking System

Ethereum #treasury company Bitmine initiated its first staking operations Sunday, transferring 74,880 $ETH valued at nearly $219 million into the network's proof-of-stake infrastructure. Arkham's on-chain tracking shows multiple Bitmine-controlled wallets sent funds to a BatchDeposit contract, following patterns typical of institutional validator setups.

On-chain researcher EmberCN confirmed the activity marks Bitmine's inaugural staking deployment. The company now holds 4.066 million $ETH, which could generate approximately 126,800 tokens annually at the current 3.12% yield rate, worth around $371 million at $2,927 per token.

#Bitmine's treasury crossed the 4 million $ETH threshold for the first time this week following a $40 million purchase. The firm accumulated nearly 100,000 tokens over the past week at an average cost of $2,991 each, demonstrating continued expansion of its #Ethereum position.

The company outlined plans in November to #launch staking operations during 2026's first quarter through its Made-in-America Validator Network infrastructure. Bitmine selected three institutional staking providers for pilot testing to evaluate performance and security protocols before full-scale deployment.

Sharplink Gaming co-CEO Joseph Chalom projects Ethereum's total value locked could increase tenfold throughout 2026 as institutional participation accelerates. Sharplink maintains the second-largest public Ethereum treasury at nearly 798,000 $ETH, currently worth approximately $2.33 billion.

Chalom anticipates the #stablecoin market will reach $500 billion by year-end 2026, representing roughly 62% growth from present levels of $308.46 billion. Ethereum processes more than half of all stablecoin transactions, positioning the network to benefit substantially from continued dollar-pegged token adoption.