Bitmine Stakes Over 2 Million ETH, Targets $160 Million in Annual Rewards

• Bitmine has staked more than 2 million ETH, with the potential for more than $160 million in annual staking rewards.
• Bitmine is scheduled to upgrade its infrastructure, such as the development of a local validator network.

Bitmine Immersion Technologies, a publicly traded digital asset treasury management firm, has greatly improved its Ethereum staking offering by staking a total of 2,009,267 ETH worth approximately $5.9 billion. At the standard 2.81% Composite Ethereum Staking Rate (CESR), the staked Ether of the company is expected to generate annual staking revenue of approximately $160 million.

The staking effort is indicative of Bitmine’s move to capitalize on its massive Ethereum holdings, estimated to be in excess of 4.24 million ETH, by engaging in the staking process to earn rewards from the Ethereum proof-of-stake network.

Staking Operations and Revenue Potential

Bitmine’s staking operations have contributed to the company’s staked ETH holdings increasing by 171,264 ETH over a recent reporting period, which is a testament to the company’s continued commitment to on-chain activities. Based on CESR data and current ETH prices, the company’s current staking activities have the potential to generate an annualized revenue stream in excess of $160 million. The company’s chairman has also stated that if the Ethereum assets Bitmine are fully staked, the revenue potential could increase substantially, potentially over $374 million per year under the same staking terms.

Apart from the staking operations, Bitmine also reported holding significant liquid assets, including cash of approximately $682 million and 193 Bitcoins, thus totaling approximately $12.8 billion in reported crypto and cash holdings. 

Infrastructure Development and Strategic Expansion

In addition to the existing staking facilities, Bitmine is also collaborating with third-party staking facility providers and is developing its own validator infrastructure in the U.S., which is expected to be launched in 2026. 

The infrastructure development projects are in line with Bitmine’s plans to develop its own yield-generating capabilities and improve its presence within the Ethereum decentralized validation infrastructure.

The increasing Ethereum staking activities carried out by Bitmine Immersion Technologies have put the company on the right track to generate substantial annual revenues, estimated to be over $160 million at the current rate, by locking away a substantial portion of its Ether holdings in staking activities. Additionally, the company also has other plans to develop local validator infrastructure and increase its staked holdings.

Highlighted Crypto News:
Tezos Protocol’s Tallinn Upgrade Completes Successfully, Slashing Block Times and Boosting Network Efficiency