Ether's Big Players: How Companies Are Making Millions by Staking

Bitmine, a major player in the crypto world, just added a huge chunk of Ether (ETH) to its staking balance. They now have over 4.2 million ETH, with more than 2 million of those staked. This move could bring in around $164 million every year, just from staking rewards. That's a lot of money!

Potential for Even Greater Earnings

Bitmine's chairman, Tom Lee, mentioned that if they staked all their ETH, they could make even more—around $374 million annually. That's over a million dollars every single day! They're working with different staking providers and plan to set up their own staking infrastructure in the U.S. by 2026.

Other Major Players in the Game

But Bitmine isn't the only one doing this. Other companies like SharpLink Gaming are also staking their ETH to earn rewards. SharpLink made about $33 million in staking rewards over seven months. They're the second-largest ETH holder among companies, with over 864,000 ETH.

The Growing Trend of Staking

Staking is a big deal these days. It's a way to earn money by locking up your tokens and helping secure blockchain networks. More and more companies are jumping on this trend.

• Bit Digital is shifting from Bitcoin mining to focusing on ETH staking. They now hold over 153,000 ETH.
• Ether Machine is another company making waves. They're launching a new product aimed at institutional investors, focusing on yield from ETH staking. They're the third-largest ETH holder, with nearly 500,000 ETH.

High Demand for ETH Staking

The demand for ETH staking is so high that there's a huge backlog of ETH waiting to be staked. Over 2.6 million ETH are in the queue, the largest since mid-2023. This shows just how popular staking has become.