The latest staking move highlights the growing scale of corporate Ethereum treasuries as firms look to generate yield on idle crypto holdings.
Crypto treasury company BitMine Immersion Technologies (BMNR) staked an additional 86,400 Ether (ETH) on Saturday, valued at about $268.7 million at the time of this writing, crossing the 1 million staked ETH milestone.
The 86,400 ETH was staked in four separate transactions, according to data from crypto market analytics platform Arkham Intelligence; this brings BitMine’s total to 1,080,512 staked ETH, onchain analysis platform Lookonchain said.
Staking is the process of pledging or locking up crypto tokens by validators or third-party staking service providers to secure proof-of-stake blockchain networks.
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