Corporations are increasingly turning to Ethereum staking to earn passive yield, tightening the amount of Ether available for sale. BitMine Immersion Technologies staked 342,560 ETH worth over $1 billion. Staking involves locking ETH into Ethereum’s proof-of-stake network for a 3–5% APY. BitMine’s staked Ether impacted the Ethereum validator queue.

The Ethereum validator entry queue stands at 12 days and 20 hours, with 739,824 ETH awaiting staking. The exit queue stood at 6 days and two hours, with 349,867 ETH awaiting withdrawal, signaling long-term confidence in Ether. When the exit queue is larger, validators may be positioning to sell their holdings.

Leading corporate Ether holders like SharpLink Gaming and The Ether Machine are staking a large portion of their ETH for passive income. SharpLink Gaming staked “nearly all” its Ether, generating 9,701 Ether worth $29 million. The Ether Machine fully staked its treasury, consistently ranking among the top 5% validators.

Despite the growing amount of staked ETH, “smart money” traders sold $4.26 million worth of spot Ether, while whale wallets bought $11.6 million in the past week. Public figures and fresh wallets also bought significant amounts of spot Ether, signaling demand from crypto investors.

Read more at Cointelegraph: BitMine Stakes $1B Ether, Corporations Seek Crypto Yield