BitMine Starts Staking ETH as Trackers Flag Up to $1 Billion Deposited in Two Days

Overview

• BitMine made its first confirmed staking deposit of 74,880 ETH (about $219 million) on Dec. 27, according to on-chain monitors.
• Subsequent flow estimates diverged, with Lookonchain citing 342,560 ETH staked over two days and Arkham-linked reports pointing to roughly 154,176 ETH across two rounds, figures not confirmed by the company.
• Company filings still show holdings above four million ETH, or roughly 3.4% of supply, alongside a stated ambition to reach about 5%.
• BitMine is piloting its Made in America Validator Network with three providers, with a broader validator rollout targeted for early 2026.
• At roughly 3.1% network yields, full staking could produce about 126,800 ETH annually, offering potential relief against reported multibillion-dollar unrealized losses as peers show mixed positioning, including SharpLink’s recent unstaking.