Bitmine has staked 1.03 million ETH. What is the current backlog in the on-chain staking queue?

Question

【BitPush】Bitmine's staking actions are quite noteworthy. According to on-chain data, they have already locked over 1 million ETH into Ethereum PoS staking. The latest total staked amount is 103,2000 ETH, which is approximately $3.215 billion at current prices. How significant is this? It accounts for one-quarter of their total ETH holdings (they hold a total of 4.143 million ETH).Interestingly, because of such large-scale staking operations, the ETH waiting in the queue to be staked has accumulated to 1.778 million ETH. Conversely, the exit queue has been completely cleared — this indicates that, under current staking yield expectations, holders are not in a rush to withdraw their ETH. This phenomenon somewhat reflects the market's attitude towards ETH staking yields.

AlwaysQuestioning · Accepted Answer

1,030,000 tokens? This guy is really carried away, going all in with a quarter of his assets for staking.

1,770,000 in the waiting queue piled up like this, it seems everyone is betting that the staking rewards can hold up.

Withdrawing and clearing? That means it's not time to run yet.

RugpullSurvivor · Answer

1,030,000 coins locked in, 1,770,000 still in queue, this is forcing retail investors to continue holding, huh

ser_ngmi · Answer

1.03 million coins? Bitmine's move is indeed fierce, with the staking queue piling up to 1.77 million. It seems that big players are all rushing to secure their positions.

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The thing about clearing the exit queue is quite interesting, indicating that everyone still has confidence in this round of profits.

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$3.2 billion locked in, how confident must they be? I just can't understand how they dare to go all-in on staking like this.

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The staking queue is full. Will this affect the yields later on? We need to keep an eye on this.

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They hold 4.14 million coins, only staking a quarter of that? What are the rest doing? Don't they trust the staking returns?

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No one wants to exit, it seems the market sentiment is still heading in a positive direction.

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177,000 coins are in line, which means waiting until the Year of the Monkey or beyond. The efficiency is really low.

ImpermanentPhilosopher · Answer

1,778,000 coins are in line? This queue is too long, it'll take until the Year of the Monkey and the Horse to wait.

Bitmine's move is indeed fierce, locking in 3.2 billion in one go, with 3/4 of ETH still untouched.

No one wants to redeem, which instead shows that everyone is still optimistic; just worried about declining returns.

CounterIndicator · Answer

1.03 million ETH are locked, is this betting on returns?

Bitmine has staked 1.03 million ETH. What is the current backlog in the on-chain staking queue?

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