BitMine Expands Ethereum Staking as Institutional ETH Holdings Stay in Focus

TLDR

• BitMine staked an additional 167,578 ETH over the past two weeks.
• BitMine’s total staked ETH balance is now around 300,000 ETH.
• The Ethereum Foundation’s staked ETH total has risen above 69,500 ETH.
• The Beacon deposit contract holds more than 82 million ETH, per Arkham data.
• BlackRock holds over 3 million ETH through its iShares Ethereum Trust ETF.

BitMine has added another 167,578 ETH to its staked balance over the past two weeks, according to data shared by a CryptoQuant analyst on April 3. The update comes at a time when Ethereum price action remains soft, yet large holders continue to commit more ETH to the network through staking.

The analyst’s chart showed a sharp increase in BitMine’s staking activity through late March and early April. With the latest additions, BitMine’s total staked balance has reportedly reached around 300,000 ETH. The move suggests that the company has continued to increase its Ethereum commitment even as broader market conditions remain mixed.

Staking allows ETH holders to lock tokens to help secure the Ethereum network while receiving rewards. For corporate holders, that can also turn a treasury asset into a yield-generating position. In BitMine’s case, the latest increase adds to a wider pattern of accumulation and staking that has kept the company closely tied to Ethereum’s long-term network economics.

Source: X

The recent rise in staked ETH also appears to follow a period earlier this year when BitMine had materially reduced its staked balance. The latest activity indicates that the company has been rebuilding that position at a faster pace, using the current market backdrop to deepen its exposure to Ethereum and increase its staking-based income stream.

Ethereum Foundation Nears Its Own Staking Target

BitMine’s latest move comes as the Ethereum Foundation nears a major staking milestone. Recent on-chain data showed that the foundation pushed its total staked amount above 69,500 ETH after depositing another 45,034 ETH, worth about $93 million at the time of transfer. That leaves the group close to completing its 70,000 ETH target.

The foundation had already added more than 22,500 ETH that same week. The new treasury strategy marks a shift away from the previous pattern of selling ETH to support operations. Instead, the foundation is using staking rewards to fund research, grants, and ecosystem development, while preserving its core ETH holdings.

That policy change has drawn attention because it reflects a broader trend among major Ethereum holders. Rather than treating ETH only as a liquid reserve, more entities are using staking to generate returns while remaining exposed to the underlying asset. In that environment, both BitMine and the Ethereum Foundation are adding to a network-wide reduction in liquid ETH supply.

Large Holders Continue to Shape Ethereum’s Supply Structure

Recent data cited from Arkham showed that the ETH2 Beacon Deposit Contract holds more than 82 million ETH, worth about $169 billion. That makes the Beacon deposit contract the largest Ethereum holder by a wide margin and points to the scale of network participation tied to validators.

Among exchanges, Coinbase was reported to hold around 4.2 million ETH, followed by Binance at 3.6 million ETH and Upbit at 1.7 million ETH. On the institutional side, BlackRock was cited as holding more than 3 million ETH through its iShares Ethereum Trust ETF. Those figures show that staking contracts, major exchanges, and large financial entities now account for a substantial share of Ethereum’s circulating supply.

BitMine has said it aims to accumulate 5% of the total ETH supply, although Arkham has only verified part of the company’s broader ETH position on-chain. Even so, the latest staking increase fits with that larger treasury objective and places BitMine among the most closely watched corporate Ethereum holders in the market

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