Ether Capital Corporation, a public technology company with a focus on the Ethereum ecosystem, has announced that it will be committing 8,000 Ether ($13.4 million) to Ethereum Staking. This is in addition to the 7,488 Ether the company staked in January 2023. The total amount of Ether the company has staked is now 36,000 ($60.7 million), representing 79.4% of its portfolio.
The company’s long-term objective is to become a central business and investment hub for the Ethereum ecosystem. Ether Capital has invested the majority of its balance sheet in Ethereum’s native utility token, “Ether”, as a core strategic asset and yield-generating instrument.
The company is focused on financial infrastructure that supports the Ethereum blockchain and delivers corporate value. Ether Capital’s management team and board of directors are comprised of crypto natives, leading venture capitalists, and traditional finance experts.
Staking Ether is a core part of the company’s three-pronged strategy: to continue being a net accumulator of Ether, stake the majority of the company’s Ether balance to generate yield (Staking Rewards), and use a portion of the revenue generated from Staking to build institutional-grade infrastructure that supports the Ethereum ecosystem.
Brian Mosoff, CEO of Ether Capital, said: “We view Staking as the most reliable way to generate yield in the space and create additional value for our shareholders.”
“Our goal has always been to stake as much Ether as possible and put our weight behind Ethereum as the number one platform of choice for user and developer activity,” Brian added.
The company mentioned in the press statement that it will continue to monitor developer progress when it comes to Ethereum upgrades and will update the market if it decides to stake more of its Ether balance.
Additionally, Ether Capital announced that Brett Bergmann will be advising the management team on technical strategy and execution over the coming months. Mr. Bergmann has several years of experience in the crypto industry and was part of the initial team that designed the company’s multi-signature wallet in 2018.
Shayan Eskandari, who joined Ether Capital in fall 2021 to assist with developing technical infrastructure, will be stepping down from the role of CTO as of March 7, 2023.
Shayan helped Ether Capital in expanding technical resources, and becoming one of the first public companies in the world to stake Ether. The company also said that it will continue developing in-house products to further bolster the Ethereum ecosystem.
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