Bitmine makes largest ever Ethereum staking move, $219 million
Bitmine, the largest publicly listed holder of Ethereum, has staked 74,880 ETH worth around $219 million into Ethereum’s Proof-of-Stake protocol, marking the company’s first staking operation and the largest single staking transaction in Ethereum’s history.
According to EmberCN monitoring data, on December 27 Bitmine deposited 74,880 ETH. With the company holding 4.066 million ETH in total, this marks Bitmine’s first move to earn staking income, aimed at exploring the staking mechanism and generating yield.
The company accumulated its Ethereum position through systematic purchases, similar to its Bitcoin acquisition strategy. The decision to stake suggests Bitmine intends to hold Ethereum long term rather than actively trade it.
A logical step for long-term accumulation
Staked ETH can be withdrawn, but a waiting period applies depending on network conditions. This lock-up period also makes staking unsuitable for treasury assets that may require rapid liquidation.
Cryptonews estimated that if Bitmine were to stake its entire 4.066 million ETH holdings at an annual yield of 3.12%, the staking return would amount to approximately 126,800 ETH per year. Based on the current Ethereum price, annual staking rewards would be roughly $371 million.
As we wrote, BitMine reports earnings and announces first annual crypto dividend plan
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