Bitmine deposited 74,880 ETH worth approximately $219 million into Ethereum’s Proof-of-Stake protocol, marking the company’s first staking transaction.
The move comes as the largest treasury company Ethereum (ETH) seeks to generate yield from its 4.066 million ETH held.
According to EmberCN monitoring, the filing took place on December 27. With an estimated annual yield of 3.12%, staking the entire treasury would generate approximately 126,800 ETH per year.
Based on Ethereum’s current price, annual staking rewards would amount to approximately $371 million.
First Staking Deployment From Over 4 Million Ethereum Cash
The 74,880 ETH deposit is Bitmine’s first entry into generating staking income from its holdings. The company accumulated its position in Ethereum through systematic acquisitions similar to Strategy’s Bitcoin buying program.
Bitmine’s decision to participate suggests that the company expects to hold Ethereum for the long term rather than actively trading the position.
Staked ETH can be withdrawn but requires a waiting period which varies depending on network conditions. The lock-up period makes staking unsuitable for treasury assets that might require rapid liquidation.
The initial $219 million deployment tests the staking infrastructure before potentially committing the entire treasury.
At 4.066 million ETH, Bitmine holds approximately $11.9 billion worth of Ethereum at current prices. Full staking would generate over 126,000 ETH per year in passive income.
Lee targets Ethereum between $7,000 and $9,000 in early 2026
Bitmine President Tom Lee told CNBC that Ethereum could reach $7,000 to $9,000 in early 2026. Speaking on Dec. 26, Lee said the outlook for crypto “is still very good for the next five to 10 years.”
“Wall Street wants to tokenize everything, you know, whether it’s Vlad at Robin Hood or Larry Fink at BlackRock and that’s going to bring a lot of efficiency,” Lee said. “But it really highlights the use case for something like Ethereum.”
Lee highlighted tokenization as Ethereum’s main growth driver. Over time, as Ethereum competes with traditional payment channels, the token could reach $20,000, he predicted.
The president addressed the crypto reversal on October 10, calling it a “liquidation event similar to 2022, when FTX collapsed.” Markets took eight weeks to recover and regain balance, Lee said. “I think that’s what’s happening now,” he said.
Lee also discussed Bitcoin, saying the asset is suffering from “gold envy” as gold reaches a value of $30 trillion.
