Bitmine, a former Bitcoin mining company, has shifted to Ethereum staking after the Merge event, adding 103,424 ETH ( worth approximately $303 million USD at a price of ~ $2,940 USD/ETH ) through recent deposits, increasing the total holdings to 257,600 ETH. The reported figure of $75.43 million USD for the total value appears to be missing a digit, most likely around $754 million USD at the current price.
This move indicates growing institutional confidence in ETH’s ability to generate long-term yields ( currently around 3–4% APR ) as well as the deflationary mechanism through fee burning via EIP-1559, with over 30% of ETH supply being locked, helping to support price stability.
This trend also reflects a broader on-chain picture: the Ethereum staking queue ( 537,000 ETH ) has now surpassed the withdrawal amount ( 450,000 ETH ) for the first time since September 2025, indicating selling pressure from ETF declines is easing and accumulation activity is returning.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitmine Launches MAVAN With $6.8B in Staked Ethereum
Bitmine has launched the MAVAN platform for institutional Ethereum staking, with over 3.1 million ETH staked, aiming for $300M in annual rewards. The platform focuses on security and performance, planning to expand into more proof-of-stake networks.
CryptoFrontNews2h ago
ETH broke through 2000 USDT, with the 24-hour drop narrowing to 3.07%.
Gate News reports that on March 28, according to the market data from a certain CEX, ETH has broken through 2000 USDT, currently quoted at 2000.26 USDT, with the 24-hour decline narrowing to 3.07%.
GateNews5h ago
Hey Anon Announces Launch of “Pandora” Prediction Market on Ethereum
Hey Anon launches Pandora, a decentralized AI-driven prediction market on Ethereum, empowering users to create transparent markets without central control. The platform features unique AI consensus mechanisms and aims to innovate the prediction market landscape.
CoinDesk6h ago
Yesterday, the US spot BTC ETF had a net outflow of $225.5 million, and the ETH ETF had a net outflow of $48.5 million.
Gate News Report, March 28 - According to monitoring by Farside, yesterday (March 27), the U.S. spot Bitcoin ETF saw a net outflow of $225.5 million, marking two consecutive trading days of net outflows. Yesterday, the U.S. spot Ethereum ETF had a net outflow of $48.5 million, resulting in eight consecutive trading days of net outflows.
GateNews6h ago
The chain remains, but the people are gone! Ethereum veteran of 10 years: the middle layer has been completely wiped out, and in the future, there will only be heaven and earth left.
Ethereum developer Chen Pin reflects on the past decade, pointing out that the middle layer of the blockchain industry has disappeared, and the future will move toward two extremes: "trusted neutrality" or toolization. He reviewed the development of the past three phases and questioned the potential idealism or pragmatism direction for the future.
CryptoCity6h ago
Yesterday, the U.S. spot Ethereum ETF saw a net outflow of $48.5 million, marking eight consecutive trading days of net outflows.
BlockBeats news, on March 28, according to Farside monitoring, yesterday the U.S. spot Ethereum ETF had a net outflow of 48.5 million dollars, marking eight consecutive trading days of net outflows.
BlockBeatNews6h ago
