PiCK

Ethereum hoarder 'Bitmain' starts staking… approximately $219 million

Uk Jin

Summary

Bitmain recently deposited assets worth approximately $219 million for Ethereum staking.
Bitmain holds about 4,066,000 Ethereum, and said that interest income is expected based on an annual yield of 3.12%.
It said it has unveiled plans to begin Ethereum staking via its self-built validator system from the first quarter of 2026.

Bitmain has started staking by depositing assets into the Ethereum (ETH) proof-of-stake (PoS) system.

On the 27th (Korean time), crypto-focused media Cointelegraph, citing data from on-chain data platform Arkham, reported that multiple wallets associated with Bitmain recently sent a total of 74,880 Ethereum to addresses labeled 'Beacon Deposit'. This is worth approximately $219 million.

On-chain analyst Amber CN said, "Bitmain, the largest Ethereum holder, attempted staking for the first time." He added, "Bitmain currently holds about 4,066,000 Ethereum, and based on an annual percentage yield (APY) of 3.12%, staking all of it would yield about 126,800 Ethereum annually as interest."

Previously, Bitmain said it plans to begin Ethereum staking via its self-built validator system, the 'Made in America Validator Network (MAVAN)', starting in the first quarter of 2026.

ETH