BitMine, the largest Ethereum treasury firm, deposited approximately $451 million worth of tokens into Ethereum's proof-of-stake system on Dec. 27, marking the company's first move to generate yield from its holdings. The dual-transaction deployment represents a strategic shift for the digital asset treasury firm as it seeks passive income amid challenging market conditions.
What Happened: Dual Staking Transactions
On-chain analyst EmberCN reported that BitMine executed two separate deposits on Saturday.
The firm first staked 74,880 ETH valued at $219 million, then added 79,296 ETH worth $232 million in a subsequent transaction. These moves brought BitMine's total staked position to 154,176 ETH from its 4.066 million token treasury.
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Why It Matters: Revenue Generation
EmberCN stated that with an approximate annual percentage yield of 3.12%, staking the entire treasury could generate 126,800 ETH in interest over one year. At current prices of $2,927 per token, that would equal $371 million in revenue.
The staking deployment comes earlier than anticipated—BitMine had disclosed plans in November to begin operations in the first quarter of 2026 through its Made-in America Validator Network.
The firm had selected three institutional providers for a pilot program to test performance and security before full-scale implementation.
BitMine stock closed at $28.31 per share on the last trading day, down nearly 4%. The stock has declined 43% over three months but gained 2.5x over the past year.
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