TORONTO–(BUSINESS WIRE)–$ETHC–Ether Capital Corporation (“Ether Capital” or “the Company”) (NEO: ETHC) is pleased to announce it has committed 8,000 Ether (C$18.1 million equivalent) to Ethereum Staking, which is in addition to the 7,488 Ether the Company Staked in January 2023. In total, Ether Capital has Staked 36,000 Ether (C$81.4 million equivalent), representing 79.4 per cent of its portfolio.
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.
“We view Staking as the most reliable way to generate yield in the space and create additional value for our shareholders,” said Brian Mosoff, CEO of Ether Capital. “When individuals or companies Stake ETH, they are making a commitment to help secure the network and validate future transactions that take place on Ethereum. This is a protocol we believe will one day act as a primary settlement layer for the global economy and support trillions of dollars of activity. 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.”
Ether Capital 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.
The Company is also pleased to announce 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 will be stepping down from the role of Chief Technical Officer as of March 7, 2023. Mr. Eskandari joined Ether Capital in fall 2021 to assist with developing technical infrastructure that allowed the Company to build out its operating businesses. Since that time, Ether Capital has expanded technical resources, become one of the first public companies in the world to stake Ether and will continue developing in-house products to further bolster the Ethereum ecosystem. Mr. Eskandari is planning to return to academia and focus on his PhD. The Company thanks him for his contributions and wishes him well on his next chapter.
About Ether Capital Corporation
Ether Capital (NEO: ETHC) is a public technology company with a long-term objective to become a central business and investment hub for the Ethereum ecosystem. The Company 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, which uniquely positions the company to identify and capitalize on opportunities in the digital asset ecosystem. For more information, visit http://ethcap.co.
The content of this document is for informational purposes only and is not being provided in the context of an offering of any securities described herein, nor is it a recommendation or solicitation to buy, hold or sell any security. The information is not investment advice, nor is it tailored to the needs or circumstances of any investor. Information contained in this document is not, and under no circumstances is it to be construed as, an offering memorandum, prospectus, advertisement, or public offering of securities. No securities commission or similar regulatory authority has reviewed this document and any representation to the contrary is an offence. Information in this press release is current only as of the date provided and Ether Capital is under no obligation to update this information, other than in accordance with applicable securities laws.
Contacts
Brian Mosoff
Chief Executive Officer
Ian McPherson
President and Chief Financial Officer
Ashley Stanhope
Director of Communications
Source: https://thenewscrypto.com/ether-capital-corporation-allocates-an-additional-18-million-to-ethereum-staking-and-announces-changes-to-its-technical-team/