The Ethereum treasury firm Bitmine has begun staking its ETH and transferred almost $219 million worth of Ether to the proof-of-stake system of Ethereum.
Bitmine has made a big move by depositing almost $219 million of Ether and staking it in the Ethereum proof-of-staked system as a firm strategy to gain extra profit from its idle assets. On the 3rd of December, several wallets believed to be owned by the company transferred huge amounts of Ether to a smart contract named “BatchDeposit,” as per the on-chain data analysis performed by Arkham. The total amount of the deposits was 74,880 ETH.
The given transaction strategy is frequently used by the big players in the market. It is a way that allows the aggregation of the large noisy ETH balances to be split into validator deposits, thus confirming a systematic and large-scaling staking operation rather than small-scale retail activity.
Bitmine Gets Ready to Stake Ethereum In-house
The transfers are in line with a key development for Bitmine, as it has reached the milestone of having a treasury of over 4 million ETH for the first time. This week the company confirmed its ETH holdings have increased to over 4.06 million after market participation worth $40 million.
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In the past week alone, Bitmine has bought almost 100,000 ETH, with an average price of $2,991 per ETH token.
In November, Bitmine announced that it would begin Ethereum staking via its own in-house infrastructure, the Made-in America Validator Network (MAVAN), in the first quarter of 2026. The firm has said it has already selected three institutional staking service providers for a pilot phase, whereby a small amount of ETH will be used to test performance, security, and operational reliability before expanding the program.
