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The Ethereum ecosystem is making another big move. According to on-chain data monitoring, one of the institutions holding the most ETH, Bitmine, has recently come up with a new idea—they are starting to attempt staking their Ethereum holdings.
Specifically, this company today morning deposited 74,880 ETH into the Ethereum PoS staking contract, worth approximately $219 million. This operation is quite special because it is Bitmine's first time participating in Ethereum staking.
The underlying logic is actually easy to understand. Bitmine currently holds 40.66 million ETH, and based on the current annualized yield of about 3.12%, staking can bring them a considerable passive income. This shift from simply holding to actively participating in PoS also reflects the increasing maturity of the Ethereum ecosystem, with more and more institutions beginning to optimize their asset allocation strategies.