Ethereum Foundation reaches 70,000 ETH staking goal

Ethereum Foundation staked 70,000 ETH ($143M), shifting from selling to staking for network security and yield. Bitmine raised its staked ETH to 167,578, targeting 300,000 ETH.

The Ethereum Foundation has achieved its target of staking 70,000 ETH, valued at approximately $143 million. This marks a significant shift from its previous strategy of selling ETH, as the Foundation now prioritizes network participation and earning staking rewards. The staking initiative began in February with an initial deposit of 2,016 ETH, followed by substantial additions in March and April, including a recent $92 million deposit. Through this approach, the Foundation expects to generate annual yields between $3.9 million and $5.4 million. These returns will support research, development, and ecosystem grants, all while maintaining its ETH holdings. In parallel, Bitmine has increased its staked ETH to 167,578, with an ambitious goal of reaching 300,000 ETH. This trend highlights growing confidence in Ethereum's Proof-of-Stake ecosystem.