• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: Binance.US Takes Action Amidst SEC Complaint: Delists Over 40 Trading Pairs
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Binance.US Takes Action Amidst SEC Complaint: Delists Over 40 Trading Pairs
Picture of an Ethereum coin on a circuit board, as TIME Magazine to hold the asset on its balance sheet

Ethereum Gets Extra $38M In Staking From Ether Capital, Why Are They Doubling Bet On This Network?

Reynaldo Marquez by Reynaldo Marquez
1 year ago
in Ethereum
0

Publicly traded company Ether Capital has added an additional $38 million or 10,240 to Ethereum 2.0 staking. Per a press release shared with Bitcoinist, the company has a total of $59 million staked into this network’s Proof-of-Stake consensus layer.

Related Reading | How Vitalik Buterin Will Use $100M In SHIB To Fight COVID-19

Based in Canada, Ether Capital attracted media attention in 2021 when a became one of the first public companies to allocate millions into Ethereum staking. As part of a treasury strategy, the company is determined to support the development of this network its Web 3 ecosystem, and become its investment hub.

Ether Capital has a portfolio of over 44,061 ETH and plans to allocate at least 30,000 ETH into Ethereum 2.0 staking. This would represent 65% of its total ETH balance, which goes to show the optimist of the company on the development of Ethereum’s consensus layer.

In order to achieve this objective, the company made a partnership with Figment to build and run their own validator infrastructure. Thus, making it not only investors on the Ethereum migration to a PoS consensus, but a direct contributor to the network’s security.

Additionally, the company will be turning 766 of their MakerDAO tokens (MKR) into gross proceeds, according to the press release, which is about $1.9 million. The funds will be used for “general corporate purposes”, such as share purchases or an increase in their ETH balance.

The company has a $162 million market valuation due to their ETH balance, and a $166 million market valuation when accounting for their ETH and MKR balance along with an investment made in Wyre, a payment APIs provider.

Why Ethereum Could See More Companies Stake Into Its Consensus Layer

On their recent ETH allocation, Ether Capital CEO Brian Mossoff added the following emphasizing the company’s commitment to the Ethereum ecosystem:

We are thrilled to announce that we are now staking over 20,000 Ether and are well on the path to staking a majority of our Ether balance in the coming months. We are firmly committed to our unique strategy of being a net accumulator of Ether and are proud to provide validation and security to the Ethereum network as it transitions from proof of work consensus to proof of stake.

Bitcoin recently conducted an interview with Ether Capital CEO on their participation in Ethereum staking, crypto adoption, and their plans for 2022. When asked if ETH staking could see interest from other public companies, Mosoff said:

I think we’re still a fair bit away from seeing other companies stake ETH, but we can anticipate that eventually, we’ll see more institutional adoption of the asset. Currently, capital markets are fascinated with Bitcoin and will likely dip their toes in the water on that asset before they consider Ethereum. That said, innovations like DeFi and NFTs have turned heads and now institutions with young, eager employees are starting to pay attention to Ethereum, which is a good sign.

Related Reading | MicroStrategy Buys 660 More BTC For $25 Million

Data from the Eth2 Rewards bots indicates that the current rewards for Ethereum staking stand at a 5% annual percentage rate, as seen below. The PoS network or Beacon Chain has over 290,000 active validators with a 97.44% participation rate.

—Current Network—
? Reward rate: 5.00%
?‍? Participation rate: 97.44%
? Active validators: 293,574

—Queue—
⏰ Wait time: 0 hours
? Validators: 0
? Rewards impact: -0.07%

—Projected Annual Returns—
Ξ 1.6 ($4,599.26)

— Eth2 Rewards Bot (@Eth2Bot) February 14, 2022

As of press time, ETH trades at $2,950 with a 1.9% profit in the past 24-hours.

Ethereum ETH ETHUSD
ETH with minor profits on the daily chart. Source: ETHUSD Tradingview
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Reynaldo Marquez

Reynaldo Marquez

As an editor at NewsBTC, Reynaldo is an experienced journalist passionate about all things crypto. Reynaldo has interviewed key industry leaders, and created unique pieces analyzing the promise of crypto as the next frontier for an economic and social transformation of humanity. Since 2018, he has been at the forefront of the industry, closely following every major development and analyzing critical events at the heart of the crypto industry. With a keen eye for detail and an unwavering commitment to excellence, Reynaldo has been instrumental in bringing the latest news and insights to the crypto community. Outside of work, Reynaldo enjoys lifting weights and literature, which he believes gives him a unique perspective into the world of crypto. As an aspiring trader, he is always looking for new opportunities to explore and believes that crypto holds the key to unlocking the future of finance.

Related Posts

Ethereum (ETH)

VanEck Says This Is When Ethereum (ETH) Will Reach $11,800

2 days ago
Ethereum

Ethereum Bearish Signal: Profit-Taking Transfers Spike

2 days ago
Ethereum

Bullish Signal? Ethereum Average Fees Declines 69% Since Early May

6 days ago
Ethereum Deribit

Ethereum Open Interest On Deribit At A 3-Year High

1 week ago
Ethereum (ETH)

Long Dormant $14.7 Million Ethereum ICO Wallet Surfaces After Eight-Year Slumber

1 week ago
Ethereum (ETH) Whales

Ethereum Whales On The Rise, Acquire Over $9 Billion ETH In 2023

2 weeks ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    6 days ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    6 days ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    6 days ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • DigiToad (TOADS) Stands tall against Dogecoin (DOGE) with...

    5 hours ago
  • Bitcoin (BTC) or the New Favorite, InQubeta (QUBE) ?...

    6 hours ago
  • Bitfinex and GoCrypto announce the listing of the GoC token

    8 hours ago
  • Discover the 3 promising Altcoins Whales are accumulating...

    9 hours ago
  • Tornado Cash Developer Set Free, InQubeta (QUBE) Presale...

    10 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.