According to a report by Cointelegraph on January 3rd, Bitmine, the Ethereum treasury company, deposited another 82,560 ETH into the Ethereum staking system, bringing its total staked ETH to 544,064, worth approximately $1.62 billion at current prices. Due to Bitmine's TechFlow accelerated staking, the Ethereum validator queue has now grown to approximately 977,000 ETH, with new validators expected to wait close to 17 days, and over 113,000 ETH awaiting withdrawal. Ethereum network data shows that over 35.5 million ETH are currently staked, representing approximately 29% of the total supply, with an annualized staking yield of nearly 2.54%.
Bitmine's accelerated staking has caused a surge in the amount of ETH in the validator queue, with new validators needing to wait nearly 17 days to activate.
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