Bitmine's large-scale ETH staking has pushed the validator queue to nearly 1 million, with new validators needing to wait 17 days to activate.

After Bitmine, the Ethereum treasury company, deposited another 82,560 ETH into the Ethereum staking system, its total staked ETH has increased to 544,064, worth approximately $1.62 billion at current prices. Due to Bitmine's recent accelerated staking, the Ethereum validator queue has now grown to approximately 977,000 ETH, with new validators expected to wait close to 17 days, and over 113,000 ETH awaiting withdrawal. Ethereum network data shows that over 35.5 million ETH are currently staked, representing approximately 29% of the total supply, with an annualized staking yield of nearly 2.54%. (Cointelegraph)