BitMine Begins Staking Its $12 Billion Ethereum Holdings
BitMine, the largest corporate Ethereum holder, has started staking approximately $219 million worth of ETH to generate yield.Summary
BitMine, which holds about $12 billion in Ethereum (roughly 4.07 million ETH), has begun staking a portion of its treasury, depositing about 74,880 ETH (valued at $219 million) into staking contracts. This signals a strategic shift to manage its balance sheet by earning yield, potentially generating $371 million annually if the entire holding were staked at the current 3.12% APY, thereby tying its valuation to Ethereum's consensus layer rather than just price movements. However, staking introduces risks, as staked Ether is subject to protocol withdrawal delays, potentially hindering liquidity during market stress. BitMine has a long-term goal to stake 5% of Ethereum's total supply and is developing its proprietary staking platform, the Made in America Validator Network (MAVAN), for deployment in early 2026. Critics note that controlling such a large share via a US-domiciled validator could introduce centralization risks and potential pressure from regulators like OFAC.
(Source：BeInCrypto)