Ethereum treasury company Bitmine has begun staking its Ether holdings, depositing nearly $219 million worth of ETH on Ethereum’s proof-of-stake (PoS) system.
On Sunday, multiple Bitmine-affiliated wallets sent immense Ether (ETH) transfers to a contract marked “BatchDeposit”, onchain data from Arkham can be seen. The total sum of transfers was 74,880 ETH, a pattern typically associated with institutional staking setups that aggregate funds before creating a validator.
“Ethereum’s largest treasury company, Bitmine (BMNR), has finally started trying to stake its ETH holdings for interest income” – EmberCN he said in the post on X.
“This is their first stake and they currently hold 4.066 million ETH, with an approximate APY of 3.12%. If the entire stake was staked, they could earn approximately 126,800 ETH in interest over the course of a year, which at the current price of $2,927 would be worth $371 million,” the onchain analyst said.
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Bitmine’s ether vault exceeds 4 million tokens
Deposits constitute Bitmine’s ether treasury exceeded 4 million tokens for the first time. Earlier this week, the company confirmed that its holdings now exceed 4.06 million ETH following its recent $40 million purchase.
Over the past week, Bitmine has added almost 100,000 ETH to its balance at an average purchase price of $2,991 per token.
In November, Bitmine he said plans to begin staking Ether in the first quarter of 2026 via a dedicated internal setup called Made-in America Validator Network (MAVAN). At the time, the company said it had selected three institutional staking providers for a pilot program, using a diminutive portion of its ETH to test performance, security and operational quality before scaling.
Related: Ethereum unlikely to hit modern highs in 2026: Ben Cowen
Ethereum TVL could jump 10× in 2026
According to Joseph Chalom, co-CEO of Sharplink Gaming, Ethereum’s total value locked (TVL) could grow tenfold in 2026 as institutional participation increases and modern apply cases gain traction on the network. Sharplink is the second-largest holder of the public Ethereum vault, holding nearly 798,000 ETH worth approximately $2.33 billion.
Chalom pointed to stablecoins as a key driver, predicting that the market will reach $500 billion by the end of next year, an boost of about 62% from current levels. With over half of stablecoin activity already taking place on Ethereum, sustained issuance and transaction growth could significantly boost the network’s TVL.
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