Citing Cointribune, Bitmine has deposited 74,880 ETH (worth $219 million) into Ethereum’s proof-of-stake contract, marking its first foray into staking. The company has also accumulated over $540 million in ETH within a month, bringing its total holdings to over 4.066 million ETH, or 3.37% of the total supply. The staking move is expected to generate an annual yield of 3.12%, potentially earning over 126,000 ETH in rewards. Bitmine aims to hold 5% of the total ETH supply, betting on both price appreciation and staking returns.
Bitmine Deposits $219M in ETH for Staking, Accumulates $540M in One Month
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Summary
Bitmine deposited 74,880 ETH ($219 million) into Ethereum’s staking contract, its first move into staking. The firm added over $540 million in ETH in a month, holding 4.066 million ETH, or 3.37% of the supply. With a 3.12% annual yield, it could earn 126,000 ETH in rewards. Bitmine targets 5% of the ETH supply, betting on ETH price growth and staking returns. ETH analysis shows growing institutional interest in the asset.
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