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BitMine deposits $451 million in Ethereum tokens for staking operations
Source: Yellow Original Title: BitMine deposits $451 million in Ethereum tokens for staking operations
Original Link: BitMine is the largest fund management company for Ethereum. On December 27, it deposited approximately $451 million worth of tokens into the Ethereum proof-of-stake system, marking the company’s first move to earn yields from its holdings. This deployment, executed in two transactions, represents a strategic shift for this digital asset fund management firm, which is seeking passive income amid challenging market conditions.
What happened: Double staking transactions
On-chain analyst EmberCN reported that BitMine executed two separate deposits on Saturday.
The company first staked 74,880 ETH valued at $219 million, then added 79,296 ETH worth $232 million in a subsequent transaction. These actions brought BitMine’s total staked position to 154,176 ETH, part of its fund of 4.066 billion tokens.
Why this matters: Income generation
EmberCN noted that the annualized yield is approximately 3.12%, meaning staking the entire fund could generate about 126,800 ETH in interest annually. At the current price of $2,927 per ETH, this amounts to $371 million in annual revenue.
The staking deployment occurred earlier than expected: BitMine previously revealed in November that it plans to start operations through its “Made in the USA Validation Node Network” in Q1 2026.
The company has selected three institutional vendors to participate in a pilot program to test performance and security before large-scale deployment.
BitMine’s stock closed at $28.31 per share on the last trading day, down nearly 4%. The stock has fallen 43% over three months but has increased 2.5 times over the past year.