Bitmine started depositing ETH at 219 million PoS
Ethereum treasury company Bitmin has begun depositing its Ether holdings of approximately $219 million in ETH into Ethereum's Proof-of-Stake (PoS) system.
On Sunday, several Bitcoin-connected wallets sent large Ether (ETH) transfers to a contract dubbed “BatchDeposit,” onchain data from Arkham shows. The transfers totaled 74,880 ETH, a pattern typically associated with institutional staking setups that collect funds before a validator is created.
“The largest Ethereum treasury company Bitmine (BMNR) has finally started to try to share the ETH held to earn interest,” said EmberCN in a post on X.
“This is the first time they have held a stake, and now they hold 4.066 million ETH, with an APY of 3.12%. If they were all stakes, they could have earned 126,800 ETH in interest in one year, which at the current price of $2,927 would be $371 million,” said an Onchain analyst.
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Bitcoin's Ether treasury has exceeded 4 million tokens
The deposits come as Bitmine's Ether treasury surpasses 4 million tokens for the first time. The company confirmed earlier this week that its holdings are now over 4.06 million ETH following its latest $40 million purchase.
Over the past week, Bitcoin has added nearly 100,000 ETH to its balance sheet.
In November, Bitmin said it planned to launch Ethereum shares through an in-house setup called the Med in America Validation Network (MAVAN) in the first quarter of 2026. At the time, the company announced that it had selected three institutional staking providers for the pilot program; He was able to test performance, security, and quality of operation using a portion of ETH.
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Ethereum TVL could jump 10× by 2026.
According to Joseph Chalom, CEO of Sharplink Gaming, Ethereum's total value locked (TVL) could increase tenfold by 2026 as institutional participation expands and new use cases are added to the chain. Sharplink is the second largest public Ethereum treasury, with approximately $2.33 billion worth of 798,000 ETH.
Chalom pointed to stablecoins as a key driver, predicting that the market will reach $500 billion by the end of next year, about 62% from current levels. With more than half of the stable coin activity on Ethereum, the continuous supply of sales and transaction growth can raise the network's TVL significantly.
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