The Ethereum Foundation has reached its goal of staking 70,000 Ethereum (CRYPTO: $ETH) tokens. 

The Foundation says it has now staked $143 million U.S. worth of Ethereum and hit the target it set in February of this year. 

The Ethereum Foundation had been building toward its 70,000 ETH staking target over the past two months, starting with an initial 2,016 token deposit in February.

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Staking is the process of locking up cryptocurrencies such as Ethereum to help secure a blockchain and earn rewards in the process. 

Analysts and investors often refer to staking as being similar to buying bonds and earning interest on them, or earning interest on cash held in a savings account at a bank. 

The Ethereum Foundation’s position will generate $3.9 million U.S. to $5.4 million U.S. annually at the current interest rate of 2.7% to 3.8% for institutional positions that are staked. 

Those earnings might seem like a lot, but they are modest relative to the foundation's annual operating expenses, which have historically run near $100 million U.S.

The Ethereum Foundation says that it is putting its ETH holdings to work through staking, earning rewards that help fund research, grants, and operations — all without selling its coins. 

With staking, the foundation earns money on its holding but retains its ETH.

This new approach differs from the previous model where the Foundation resorted to ETH sales to generate cash. The Foundation faced criticism over its frequent token sales. 

Reaching the 70,000 ETH target doesn’t mean that the staking is done. The Foundation still holds over 100,000 unstaked Ethereum. 

Currently, Ethereum is trading at $2,047.96 U.S., down about 5% on the week.