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.

[Bitmine's Accelerated Staking Leads to a Surge in ETH in the Validator Queue; New Validator Activation Requires Nearly 17 Days] According to Mars Finance, after depositing another 82,560 ETH into the Ethereum staking system, Bitmine's total staked ETH has increased to 544,064, worth approximately $1.62 billion at current prices. Due to Bitmine's recent accelerated staking, the Ethereum validator queue has now grown to approximately 977,000 ETH. New validators are expected to wait nearly 17 days, and the number of ETH awaiting withdrawal from the exit queue exceeds 113,000. 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%.