Bitmine Accumulates 461,504 Staked Ethereum Valued at $1.4 Billion

Bitmine's Ethereum Staking Surpasses 461,000 ETH

Bitmine Immersion Technologies has significantly increased its Ethereum staking activities, reaching a total of 461,504 ETH, valued at approximately $1.4 billion. This move underscores Bitmine's strategic focus on expanding its presence in the Ethereum staking landscape.

Key Developments

• Total ETH Staked: Bitmine's staked Ethereum now totals 461,504.
• Strategic Partnerships: The company continues collaboration with three staking providers as it prepares to launch the Made in America Validator Network (MAVAN).

According to Onchain Lens data, Bitmine recently staked an additional 118,944 ETH, valued at $352.16 million. A newly created wallet reportedly linked to Bitmine has also received 32,938 ETH, worth $97.8 million, from FalconX.

Bitmine disclosed earlier this week that it had 408,627 ETH staked by December 28, a fraction of its over 4 million ETH treasury. The firm is working on deploying its ETH through MAVAN and partner validators, expecting to generate around $374 million annually in staking rewards. MAVAN aims to offer a secure, "best-in-class" infrastructure solution.