One company now has almost 5.8M ETH. Most of it is already staked

BitMine says it now holds almost 5.8M ETH. Around 4.9M of that is already staked, so roughly 85% of its ETH position is earning validator rewards.

The company estimates the current staking revenue at about $247M a year. What interests me is that this is no longer just a company keeping ETH on its balance sheet. It is also building one of the largest concentrated staking positions.

That may work well for shareholders, but at some point corporate ETH treasuries also become a decentralization question.