BitMine pledges 1.25 million ETH to queue for over 44 days

The large-scale staking of Ethereum by BitMine Immersion (BMNR) has led to a backlog of staking queues on the network, with new validators having to wait for over 44 days to receive staking rewards, making it the longest waiting period since July 2023. Currently, there are over 2.55 million ETH (approximately $8.3 billion) waiting to be activated, and BitMine pledged over 1.25 million ETH this week, accounting for one-third of its holdings.