The transfers suggest early-stage validator setup activity as Bitmine’s Ether holdings climb past 4 million ETH, according to onchain data.
Ethereum treasury firm Bitmine has begun staking Ether (ETH) after transferring nearly $219 million worth of ETH to staking-related contracts on the Ethereum network.
On Sunday, multiple wallets linked to Bitmine sent a total of 74,880 Ether to a contract labeled “BatchDeposit,” a transaction pattern commonly associated with institutional staking setups that aggregate funds ahead of validator creation, onchain data from Arkham shows.
“The largest Ethereum treasury company Bitmine (BMNR) has finally started attempting to stake its held ETH to earn interest income,” EmberCN said in a post on X.
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