Bitmine has deposited an additional 82,560 ETH into its Ethereum Staking system, bringing the total amount of ETH Stake to 544,064 ETH (approximately $1.62 billion), contributing to a bloated validator queue of 977,000 ETH.
Bitmine's accelerated Staking activity is extending the time it takes for new validators to activate on the Ethereum network. Network data also shows that the total amount of ETH Stake across the network has exceeded 35.5 million ETH, equivalent to approximately 29% of the total supply.
- Bitmine Stake an additional 82,560 ETH; total Stake 544,064 ETH (~$1.62 billion).
- The validator queue reached approximately 977,000 ETH; the waiting time was nearly 17 days.
- The entire network is currently Stake >35.5 million ETH (29% of the total supply), yielding approximately 2.54% per year.
Bitmine accelerates Ethereum Staking.
Bitmine has added 82,560 ETH to Staking, bringing the total amount of ETH Stake to 544,064 ETH, worth approximately $1.62 billion at current prices.
Bitmine is described as an Ethereum treasury company and has been accelerating its Staking activity recently. This additional Stake comes as Ethereum's Staking mechanism relies on the progress of the validator queue, directly impacting the speed at which new validators are activated.
In the cryptocurrency market, major changes from a large ETH holder can impact overall Staking behavior and liquidation allocation. Data in the report shows that the rapid increase in Staking has simultaneously increased pressure on activation queues and withdrawal status.
Validator queues are long, and ETH withdrawals remain pending.
The Ethereum validator queue has risen to approximately 977,000 ETH, meaning new validators are expected to wait nearly 17 days; at the same time, there are over 113,000 ETH awaiting withdrawal.
Ethereum network data indicates that there are currently over 35.5 million ETH Stake, representing approximately 29% of the total supply. The annual Staking yield is recorded at nearly 2.54%.
With a large amount of ETH being Stake and a queue of nearly 1 million ETH, the pace of Staking in/out becomes a crucial indicator of network conditions. Long wait times and pending withdrawals can reflect increased Staking activity, while also creating latency for new participants.
