hodler

31 Mar 2026, 10:30

David Bailey’s Nasdaq-Listed Bitcoin Firm Nakamoto Sells 284 BTC Below Cost Basis

Nakamoto Inc. sold 284 bitcoin in March 2026 for roughly $20 million to cover operating costs tied to its recent acquisitions and short-term liquidity needs. Nakamoto Inc. 10-K Reveals 40% Realized Loss on March 2026 BTC Sale The publicly traded Bitcoin treasury firm, which trades on Nasdaq under the ticker NAKA, disclosed details in its

31 Mar 2026, 08:35

Strategic Shift: Bhutan Government Transfers $25.2M in BTC to Galaxy Digital-Linked Address

BitcoinWorld Strategic Shift: Bhutan Government Transfers $25.2M in BTC to Galaxy Digital-Linked Address In a significant on-chain transaction capturing global crypto market attention, the Royal Government of Bhutan transferred 325 Bitcoin, valued at approximately $25.19 million, to a digital wallet address historically linked to deposits for Galaxy Digital. This move, reported by blockchain analytics firm Onchain Lens, represents a pivotal moment in sovereign cryptocurrency strategy and portfolio management. The transaction, executed from a wallet identified as belonging to the Bhutanese state, underscores the growing intersection of national treasury operations and the digital asset ecosystem. This analysis provides the full context, historical background, and potential implications of this substantial transfer. Bhutan Government’s $25.2M Bitcoin Transfer Details Blockchain data confirms the transfer of exactly 325 BTC from a wallet associated with the Kingdom of Bhutan. Subsequently, analysts at Onchain Lens identified the receiving address. Crucially, this destination has a documented history of funneling assets to Galaxy Digital, a leading global financial services firm dedicated to the digital asset economy. The transaction settled on the Bitcoin blockchain, providing immutable proof of the asset movement. This event is not an isolated incident but rather a data point within Bhutan’s broader, and previously discreet, engagement with cryptocurrency. The nation has quietly pursued Bitcoin mining initiatives for several years, leveraging its abundant hydroelectric power. Therefore, this transfer likely represents a treasury management decision concerning state-mined or state-acquired digital assets. Galaxy Digital’s Role in Institutional Crypto Galaxy Digital, founded by former hedge fund manager Michael Novogratz, operates as a full-service digital asset platform. The firm provides services including trading, asset management, investment banking, and mining for institutional clients. A transfer to an address linked to Galaxy Digital strongly suggests a professional financial service engagement. Potential reasons for such a move are multifaceted. For instance, the Bhutanese government may seek to liquidate a portion of its holdings through Galaxy’s OTC trading desk. Alternatively, it could involve placing assets under Galaxy’s asset management wing or utilizing their custody solutions. This partnership highlights a trend where nation-states employ specialized crypto-native firms to execute sophisticated financial strategies, moving beyond direct exchange usage. Bhutan’s Covert Cryptocurrency Strategy Unveiled Bhutan’s foray into digital assets predates this transaction significantly. Reports from 2023 revealed the country’s state-owned Druk Holding & Investments (DHI) had been operating Bitcoin mining operations since at least 2019. The strategy capitalizes on Bhutan’s unique advantage: surplus renewable hydroelectric energy. This green energy makes mining both economically viable and environmentally sustainable compared to fossil-fuel-dependent operations. The mining initiative was part of a broader economic diversification plan aimed at boosting foreign currency reserves and fostering technological innovation. The recent $25.2M transfer, therefore, may represent the first major visible output—a monetization event—from this long-running, state-controlled mining program. It signals a maturation from accumulation to active portfolio management. Key Elements of Bhutan’s Crypto Approach: Energy Advantage: Leveraging 100% hydroelectric power for sustainable Bitcoin mining. Sovereign Control: Operations managed by Druk Holding & Investments, the state’s commercial arm. Strategic Accumulation: Focus on accumulating BTC as a strategic reserve asset over several years. Professional Execution: Utilizing established firms like Galaxy Digital for treasury operations. Comparative Analysis: Sovereign Bitcoin Holdings Bhutan’s transaction places it within a small but growing cohort of nations actively managing Bitcoin on their balance sheets. The most prominent example is El Salvador, which has adopted Bitcoin as legal tender and makes periodic public purchases. However, Bhutan’s model differs fundamentally. It focuses on production (mining) and strategic sales, rather than adoption as currency. Other nations, like the Central African Republic, have attempted legal tender status with limited success. Meanwhile, larger economies explore holding Bitcoin as a reserve asset, akin to gold. The table below contextualizes Bhutan’s move against other state actors. Country Primary Strategy Key Differentiator Public Disclosure Bhutan State Mining & Asset Management Green energy-powered production Low; revealed via on-chain data El Salvador Legal Tender & Treasury Buys Mandatory acceptance for businesses High; President announces purchases Central African Republic Legal Tender Adoption First African adopters Medium; official but poorly implemented United States (Various States) Pro-Mining Legislation Attracting mining businesses Varies by state Market Impact and Treasury Management Implications The transfer of 325 BTC, while substantial, represents a minor fraction of daily Bitcoin market volume. Consequently, it did not cause significant price volatility. However, its symbolic importance for institutional and sovereign adoption is profound. For treasury managers globally, the event provides a real-world case study. It demonstrates how a nation can systematically convert mined digital assets into liquid fcurrency through professional channels. The use of an intermediary like Galaxy Digital suggests a preference for over-the-counter (OTC) settlement. OTC desks facilitate large trades without immediately impacting public exchange order books, a critical consideration for state actors. This method provides price stability and discretion, both paramount for sovereign financial operations. Expert Analysis on Sovereign Crypto Moves Financial analysts specializing in digital assets view Bhutan’s move as a logical step in portfolio rebalancing. “Sovereign entities that mine cryptocurrency face the same portfolio management decisions as any large holder,” notes a report from Arcane Research. “They must decide when to HODL, when to take profit, and how to execute large transfers efficiently. Partnering with a regulated, institutional-grade firm like Galaxy Digital mitigates counterparty risk and execution risk.” The transaction also reflects growing institutional infrastructure capable of servicing nation-state clients. This infrastructure includes compliant custody, reporting, and liquidity provision—services that were nascent just five years ago. Bhutan’s action validates this maturation, potentially paving the way for other resource-rich nations with energy surpluses to consider similar models. The On-Chain Transparency of Sovereign Finance This event uniquely highlights the double-edged sword of blockchain transparency. While the Bhutanese government has not issued an official press release, the transaction is fully visible on the public Bitcoin ledger. Analytics firms like Onchain Lens can trace wallet histories and link addresses to known entities. This level of financial transparency for state actions is unprecedented in traditional finance. It allows researchers, journalists, and citizens to audit certain sovereign financial movements in near real-time. However, it also forces governments to develop new strategies for financial privacy if desired. Techniques such as CoinJoin or the use of privacy-focused cryptocurrencies might be explored, though they carry regulatory complexities. The transaction, therefore, sparks a broader conversation about transparency, privacy, and sovereign financial strategy in the digital age. Conclusion The Bhutan government’s transfer of $25.2 million in BTC to a Galaxy Digital-linked address is a landmark event in sovereign digital asset management. It represents the convergence of a long-term, energy-based mining strategy with professional institutional execution. This move provides a transparent case study in how nations can integrate cryptocurrency into state treasury operations, from green production to disciplined monetization. While the immediate market impact was minimal, the long-term implications are significant. They signal to other nations the viability of a sovereign Bitcoin strategy built on sustainable energy and partnerships with established financial services firms. As the digital asset ecosystem matures, such state-level transactions will likely become more frequent, reshaping concepts of national reserves and economic diversification. FAQs Q1: Why did Bhutan transfer Bitcoin to a Galaxy Digital address? The most likely reason is for professional treasury management. Bhutan, which mines Bitcoin using hydro power, appears to be liquidating or professionally managing part of its holdings through Galaxy Digital’s institutional services, such as OTC trading or asset management. Q2: How was this transaction discovered? Blockchain analytics firm Onchain Lens identified the movement of 325 BTC from a wallet associated with the Bhutanese government. They correlated the receiving address with historical deposits to Galaxy Digital, a known institutional crypto firm. Q3: Does Bhutan have a large Bitcoin mining operation? Yes, reports indicate Bhutan’s state-owned Druk Holding & Investments has been mining Bitcoin since at least 2019. The operation leverages the country’s surplus hydroelectric power, making it a rare example of large-scale, green Bitcoin mining. Q4: What is the significance for other countries? It provides a blueprint for resource-rich nations, especially those with renewable energy surpluses. It shows how a country can systematically produce, accumulate, and professionally manage cryptocurrency as a strategic economic asset, diversifying beyond traditional exports. Q5: Could this transaction affect Bitcoin’s price? A 325 BTC transfer is relatively small compared to daily exchange volumes (often billions of dollars). Executed via an OTC desk, it likely had no noticeable impact on the public market price, highlighting the discretion institutional channels provide. This post Strategic Shift: Bhutan Government Transfers $25.2M in BTC to Galaxy Digital-Linked Address first appeared on BitcoinWorld .

31 Mar 2026, 07:55

XRP Advocate John Deaton Says The Real Risk Isn’t A CBDC — It’s A Future SEC Chair

John Deaton, the U.S. crypto lawyer who represented XRP holders in the SEC vs. Ripple case , blasted at how U.S. crypto policy is being shaped. An XRP Voice Warns Against Inaction Reacting to Ripple’s CEO Brad Garlinghouse’s interview with Maria Bartiromo, Deaton wrote a lengthy post on the social media X today, expressing his worries and concerns regarding the direction crypto policy in the U.S. is taking. One thing @bgarlinghouse said to @MariaBartiromo that I completely agree with – is that American companies and our financial markets cannot afford to experience Gensler 2.0. And the only way to guarantee that we don’t – is by passing legislation. Look, no one despises the… https://t.co/H958StIpRY pic.twitter.com/tOdj4N5wlJ — John E Deaton (@JohnEDeaton1) March 30, 2026 In his interview with Bartirmoro for Fox Business, Garlinghouse warned that if the U.S. keeps dragging its feet, American companies and capital markets will bleed out to friendlier jurisdictions while Washington fixates on the wrong crypto battles. Bartimoro positioned the discussion around U.S. competitiveness and regulatory chaos, echoing a long‑running Fox Business narrative that America is “losing the race” on digital assets. Ripple CEO warns against weaponization of crypto policy: ‘We can’t have another Gary Gensler moment’ | https://t.co/hc5WMt0boT @MorningsMaria @FoxBusiness — Maria Bartiromo (@MariaBartiromo) March 27, 2026 Ripple and XRP holders have lived through that chaos first‑hand, from the SEC fight to today’s policy vacuum. This is why Deaton seizes on Garlinghouse’s warning. In the middle of a heated fight over Trump’s CBDC ban order and years of media‑driven CBDC panic, Deaton argues that the only way to stop a future surveillance‑style CBDC is through hard legislation passed by Congress. American companies and our financial markets cannot afford to experience Gensler 2.0. And the only way to guarantee that we don’t – is by passing legislation. For Deaton, a “Gensler 2.0” means a future regulator who uses aggressive “regulation by enforcement” instead of clear rulemaking, like Gensler did with Ripple, XRP, LBRY, Coinbase and others, and treats most tokens as securities by default, keeping the industry in a constant defensive posture. What The Future Could Hold The only durable way to block a U.S. surveillance CBDC is an explicit act of Congress that ties the Fed’s hands, Deaton argues. But as much progress, guidance, and clarity, @PaulSAtkiinsSEC and @MichaelSelig have provided to the markets, without legislation passed into law – all that guidnace [sic] and clarity can be taken away – as if it never happened – when a new administration takes over. The XRP advocate finishes his post with a reminder of who is to become Chair of the Senate Banking Comittee which oversees the SEC: Elizabeth Warren. Warren built her brand as a tough Wall Street and big‑bank watchdog. In crypto, she is famous for claiming she is “building an anti‑crypto army” , backing tough bills like the Digital Asset Anti‑Money Laundering Act and pushing amendments that critics say favor banks and restrict digital assets. We need strong crypto regulation – not an industry giveaway that puts our economy at risk and supercharges President Trump’s corruption. pic.twitter.com/6sVbwMiSFf — Elizabeth Warren (@SenWarren) August 10, 2025 Both Deaton and Garlinghouse warn that regulatory drift is already driving talent, liquidity and innovation offshore, and that the U.S. risks watching the next generation of financial plumbing get built in Europe, Asia or the Middle East instead. Clarity on XRP’s status and broader digital‑asset law in the U.S. is already shifting flows into assets seen as “safer” from enforcement risk. Further statutory wins could reinforce that capital rotation. Cover image from Perplexity, XRPUSDT chart from Tradingview

31 Mar 2026, 07:30

Bitcoin Investment Appeal Crumbles as Soaring US Treasury Yields Trigger Capital Flight

BitcoinWorld Bitcoin Investment Appeal Crumbles as Soaring US Treasury Yields Trigger Capital Flight NEW YORK, March 2025 – Rising yields on U.S. Treasury Inflation-Protected Securities are significantly weakening Bitcoin’s investment appeal, according to recent market analysis. This development marks a pivotal shift in capital allocation strategies as traditional safe-haven assets regain prominence. Consequently, investors are reassessing risk-adjusted returns across asset classes. Bitcoin Investment Appeal Faces Treasury Yield Pressure The 10-year Treasury Inflation-Protected Securities yield has climbed dramatically since geopolitical tensions escalated. Specifically, the yield increased by over 30 basis points following recent international developments. This movement represents the real return offered by government-backed securities. Therefore, it directly competes with non-yielding digital assets. CoinDesk analysis reveals this correlation between traditional finance and cryptocurrency markets. TIPS serve as crucial market indicators for real interest rates. Moreover, they provide inflation-adjusted returns that attract institutional capital. As these yields rise, capital typically flows from risk assets to safer alternatives. Historical data shows consistent patterns during similar economic conditions. For instance, previous yield increases preceded cryptocurrency market corrections. This relationship underscores the interconnected nature of modern financial systems. Understanding Treasury Inflation-Protected Securities Mechanics Treasury Inflation-Protected Securities possess unique characteristics that distinguish them from conventional bonds. Their principal value adjusts according to the Consumer Price Index. Consequently, investors receive protection against inflationary pressures. This feature makes them particularly attractive during uncertain economic periods. The real yield calculation involves subtracting expected inflation from nominal rates. Currently, this calculation produces increasingly attractive returns. Therefore, conservative investors find TIPS more compelling than volatile digital assets. Key TIPS characteristics include: Inflation protection through principal adjustment Guaranteed real returns backed by the U.S. government Liquidity in secondary markets Tax advantages for certain investors These features create strong competition for investment dollars. Meanwhile, Bitcoin offers no yield and carries substantial volatility. This contrast becomes increasingly significant as interest rates evolve. Federal Reserve Policy Implications Bitfinex analysts project difficult recovery prospects for Bitcoin without Federal Reserve intervention. Specifically, interest rate cuts or improved market liquidity could support cryptocurrency prices. However, current monetary policy remains restrictive by historical standards. The Federal Open Market Committee continues monitoring economic indicators. Their decisions directly influence capital allocation across global markets. Recent statements suggest cautious approaches to monetary easing. Therefore, immediate relief appears unlikely for risk assets. Market liquidity conditions have tightened considerably since last year. This reduction affects all speculative investments, including cryptocurrencies. Consequently, trading volumes have declined across major exchanges. Capital Flow Dynamics Between Asset Classes Investment capital behaves predictably during yield environment changes. Higher risk-free returns attract funds from speculative positions. This movement creates selling pressure across alternative asset categories. Digital currencies experience particularly strong effects due to their risk profiles. Institutional investors employ sophisticated allocation models. These models incorporate risk-adjusted return calculations. Currently, traditional fixed-income instruments score favorably in these analyses. Therefore, portfolio rebalancing occurs toward conventional assets. Asset Class Comparison: Risk vs. Return Profile Asset Class Current Yield Risk Level Inflation Protection 10-Year TIPS 2.3% real yield Low Full Bitcoin 0% yield Very High Theoretical Traditional Bonds 4.7% nominal Medium Partial Equities 1.8% dividend High Variable This comparative analysis explains current market behavior. Investors prioritize capital preservation during uncertain periods. Government-backed securities provide this security effectively. Meanwhile, cryptocurrencies remain speculative stores of value. Historical Context and Market Cycles Previous interest rate cycles demonstrate similar patterns. During the 2018 Federal Reserve tightening, cryptocurrency markets declined substantially. Conversely, 2020 monetary easing preceded significant Bitcoin appreciation. These correlations highlight macroeconomic influences on digital assets. The current environment resembles earlier periods of monetary contraction. However, cryptocurrency market maturity has increased since previous cycles. Institutional participation provides additional stability mechanisms. Nevertheless, fundamental economic principles continue applying. Market analysts identify several key factors influencing current conditions: Geopolitical tensions driving safe-haven demand Monetary policy normalization after pandemic measures Regulatory developments affecting cryptocurrency adoption Technological advancements in blockchain infrastructure These elements combine to create complex market dynamics. Investors must navigate multiple simultaneous influences. Therefore, comprehensive analysis becomes essential for informed decisions. Expert Perspectives on Market Development Financial analysts emphasize the importance of real interest rates. These rates determine the actual return after inflation adjustment. Currently, positive real rates make traditional investments more attractive. This shift affects all alternative asset classes significantly. Cryptocurrency market specialists note changing investor behavior. Risk appetite has decreased across all market segments. Consequently, capital preservation strategies gain popularity. This trend likely continues until monetary conditions improve. Economic researchers highlight inflation’s role in investment decisions. While Bitcoin theoretically protects against currency debasement, TIPS provide guaranteed protection. This distinction matters greatly during actual inflationary periods. Future Outlook and Potential Scenarios Market participants anticipate several possible developments. Federal Reserve policy changes could alter current dynamics dramatically. However, timing remains uncertain according to most projections. Therefore, investors maintain cautious positioning. Bitcoin’s long-term value proposition remains intact despite short-term pressures. Network security and adoption continue growing steadily. Nevertheless, macroeconomic factors dominate current price action. This situation may persist for several quarters. Potential scenarios include: Continued monetary tightening maintaining pressure on risk assets Unexpected geopolitical resolution reducing safe-haven demand Technological breakthrough enhancing Bitcoin utility Regulatory clarity increasing institutional participation Each scenario carries different implications for investment strategies. Prudent investors monitor multiple indicators simultaneously. This approach helps identify trend changes early. Conclusion Rising U.S. Treasury yields substantially weaken Bitcoin’s investment appeal through predictable capital allocation mechanisms. TIPS provide attractive real returns that draw funds from speculative assets. Consequently, cryptocurrency markets face continued pressure until monetary conditions change. Bitcoin investment appeal recovery requires Federal Reserve intervention or improved liquidity conditions. Market participants should monitor real interest rates closely as key indicators for capital flow direction. FAQs Q1: What are Treasury Inflation-Protected Securities? Treasury Inflation-Protected Securities are U.S. government bonds that adjust their principal value based on inflation. They provide investors with guaranteed real returns protected against purchasing power erosion. Q2: How do rising Treasury yields affect Bitcoin? Rising Treasury yields increase the opportunity cost of holding non-yielding assets like Bitcoin. As risk-free returns improve, capital typically flows from speculative investments to safer government securities. Q3: What is the current 10-year TIPS yield? The 10-year TIPS yield has increased by over 30 basis points recently, though exact figures vary daily. This movement represents significant improvement in real returns from government-backed securities. Q4: Can Bitcoin recover without Federal Reserve rate cuts? Bitcoin recovery becomes challenging without monetary policy changes, though not impossible. Improved market liquidity or positive regulatory developments could support prices despite current yield pressures. Q5: How long might this yield pressure on cryptocurrencies last? The duration depends on monetary policy decisions and economic conditions. Historical cycles suggest pressure could persist for several quarters until inflation concerns diminish or policy becomes accommodative. This post Bitcoin Investment Appeal Crumbles as Soaring US Treasury Yields Trigger Capital Flight first appeared on BitcoinWorld .

31 Mar 2026, 06:19

Crypto Isn’t Trying to Get Attention Anymore, And That Might Be the Point

Crypto is no longer vying for attention. That may sound strange for an industry built so heavily on speculation, but it may not be a bad thing. After all, attention rarely lasts on its own. The Starbucks Teddy Bear cup is a small example: a limited-edition drop that drew queues, collector hype, and then faded. Crypto often worked the same way in previous cycles, when visibility and excitement were treated as proof of strength. This time, the market seems a little less dependent on being in the spotlight all the time. The change becomes more interesting when you look at the data. Outset Data Pulse (ODP) tested that idea by analyzing 63,926 CoinDesk headlines published between January 1, 2014, and December 30, 2025, and then matched them against daily Bitcoin closing prices from the TradingView composite index, covering a total of 4,381 days. ODP’s findings may run against what many traders feel they’ve seen in real time, but the data points in a different direction: news does not predict Bitcoin’s price. More precisely, the correlation between daily news and next-day Bitcoin price movements was 0.019 (negligible). Even the headline tone proved weak as a signal: CoinDesk coverage was 58% neutral, 21% positive, and 21% negative, while sentiment explained only about 0.5% of price movement. Image source: Outset Data Pulse That held true across halving cycles, bull and bear markets, the COVID crash, and the FTX collapse, and no meaningful effect showed up in the data. ODP examined its findings across five different time lags, in both directions, and still found no meaningful predictive effect. If anything, the opposite might be true. Bitcoin prices appeared to move before coverage, rising by roughly 1% before news spikes and then falling by around 0.8% after coverage. The market reacts first, presumably through insider networks or social media, while the headlines catch up later. In ODP’s framing, the headline is often just the last mile of an information relay: by the time it appears, faster channels have usually done the real work. The relationship looks loose even at the yearly level. More articles did not consistently mean more volatility, which only adds to the case that attention is not the same thing as signal. Image source: Outset Data Pulse ODP supports its claims with individual events as well. One good example is that of the Bitcoin ETF approval. In January 2024, the U.S. SEC approved the spot Bitcoin ETF, and CoinDesk published 51 articles that day. Despite this being the biggest news of the year, Bitcoin dropped 7.67% the next day. At first glance, that seems backwards. How could BTC’s price fall after a major regulatory win? The report answers this question with data from before the actual event. A month prior to the ETF approval, on December 4, 2023, CoinDesk published 81 articles on the topic as ETF speculation reached a fever pitch. Bitcoin rose 5% on December 4. “The market had already priced in the approval weeks before it happened,” analysts behind ODP state. The report is based on a defined dataset and should be read in that context. Even so, it highlights an interesting phenomenon: crypto may be learning to function without constant visibility. What the report does suggest is that crypto may be relying less on headlines as proof of relevance. If markets are moving before the coverage arrives, then attention is no longer the clearest signal of where the real action is. In essence, crypto may no longer need constant headlines to show that it still matters. By moving away from an attention-driven phase to a usage-driven one, crypto doesn’t become weaker, as some traders would assume. Instead, it makes it potentially more durable underneath. That said, it doesn’t mean attention has disappeared from the equation. This is the attention economy, so to say that it doesn’t matter entirely is, at the very least, disingenuous. However, when hype becomes a temporary spike rather than the engine itself, the market starts to look less attention-driven.

31 Mar 2026, 06:00

Ethereum Treasury Bitmine Nears 4% Supply Share After New 71,179 ETH Buy

Ethereum treasury company Bitmine has announced that it loaded up on 71,179 ETH over the past week, taking its supply share to 3.92%. Bitmine Has Continued Its Aggressive Ethereum Accumulation As announced in a press release , Bitmine participated in additional Ethereum buying during the last week. In total, the firm has added 71,179 ETH with this accumulation spree, worth nearly $146 million right now. The purchase is larger than the recent weekly average for the company. “Bitmine has maintained the increased pace of ETH buys in each of the past four weeks, as our base case is ETH is in the final stages of the ‘mini-crypto winter,'” said Thomas “Tom” Lee, Bitmine chairman. Originally a Bitcoin mining-focused firm, Bitmine pivoted to an Ethereum treasury strategy in mid-2025. Since then, the firm has followed in the footsteps of Michael Saylor’s Strategy , continuously accumulating ETH even as the bearish market shift has occurred. The sector has faced an especially high degree uncertainty recently with the war situation in Iran. Lee pointed out, however, that crypto has held up well even as the war enters its 5th week, with ETH outperforming equities by 1,160 basis points. In contrast, Gold, the traditional safe-haven, has underperformed by more than 750 basis points. “Crypto is demonstrating itself to be a good ‘war time’ store of value,” noted the Bitmine chairman. Following the latest addition, Bitmine’s Ethereum reserves have grown to 4,732,082 ETH, equivalent to 3.92% of the cryptocurrency’s total supply in circulation. The firm has set a goal of 5% of the supply, so at the current figure, it’s already over 78% of its way to the target in just eight months. Lately, Bitmine has also been putting its ETH toward staking to earn some passive income through the Proof-of-Stake (PoS) contract. Unlike BTC, where miners secure the network, ETH is instead protected by stakers, validators who put forward some initial ‘stake’ to take part in consensus-making. Just like how miners earn rewards for mining blocks, stakers also get rewards when they add a block to the chain. According to the press release, Bitmine has a total of 3,142,643 ETH staked right now, representing 66% of the total reserves held by the company. “Bitmine has staked more ETH than other entities in the world,” said Lee. Bitmine isn’t the only organization locking its ETH in the PoS contract. As highlighted by Arkham in an X post , the Ethereum Foundation, a non-profit group dedicated to supporting the ETH blockchain, has just transferred $46.2 million worth of the cryptocurrency to the staking deposit contract. “This is more ETH than they have EVER staked before,” explained Arkham. ETH Price Ethereum dropped under the $2,000 level earlier, but the coin has opened the new week with recovery back above $2,060.