In a significant move, BitMine Immersion Technologies has staked over $1 billion worth of Ether, totaling 342,560 ETH, in just two days. This action marks a notable increase in Ethereum staking among corporations, tightening the available Ether supply in the open market.
As reported by blockchain data platform Lookonchain, the validator entry queue has expanded, now standing at 12 days and 20 hours, with 739,824 ETH awaiting staking. In contrast, the exit queue is significantly shorter at 6 days and 2 hours, with 349,867 ETH awaiting withdrawal. This disparity indicates heightened enthusiasm for staking among corporate entities, suggesting a growing confidence in the Ethereum ecosystem.
SharpLink Gaming, the second-largest Ether holder, has also engaged in staking, generating 9,701 ETH, valued at approximately $29 million, in rewards. Other corporations, including Bit Digital and The Ether Machine, are similarly staking large portions of their ETH, which reflects a broader trend of corporate treasuries seeking yield from their Ether holdings.