Bitmine begins staking ETH, deposits $219M into Ethereum PoS contract

Ethereum treasury firm Bitmine has begun staking Ether after depositing nearly $219 million worth of ETH into Ethereum’s proof-of-stake system.

Ethereum treasury firm Bitmine has begun staking its Ether holdings depositing nearly $219 million worth of ETH into Ethereum’s proof-of-stake (PoS) system.

On Sunday, multiple wallets linked to Bitmine sent large Ether (ETH) transfers to a contract labeled “BatchDeposit,” onchain data from Arkham shows. The transfers totaled 74,880 ETH, a pattern typically associated with institutional staking setups that aggregate funds before validator creation.

“The largest Ethereum treasury company Bitmine (BMNR) has finally started attempting to stake its held ETH to earn interest income,” EmberCN said in a post on X.

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