Canadian fintech company DeFi Technologies plans to stake more than $100 million worth of BTC on Core Chain, as revealed in its June 11 announcement. This move involves staking 1,498 BTC on the network and establishing a Core Chain validator node, allowing independent validation operations.

This decision follows the company's recent adoption of Bitcoin as its primary treasury reserve asset, starting with the purchase of 110 BTC. Core Chain, a Layer-1 blockchain compatible with the Ethereum Virtual Machine and powered by Bitcoin, offers an opportunity for BTC miners and stakers to earn yield through its Satoshi Plus consensus mechanism, which combines Delegated Proof of Work (DPoW) and Delegated Proof of Stake (DPoS).

With the launch of its node, DeFi Technologies aims to process transactions, support network consensus, and earn rewards for staking Bitcoin. Despite Bitcoin's traditional reliance on proof-of-work, Core Chain enables non-custodial Bitcoin staking, allowing any Bitcoin holder to earn yield without giving up custody. Olivier Roussy Newton, DeFi Technologies' CEO, emphasized the significance of this initiative, highlighting the company's commitment to the DeFi ecosystem and its partnership with the Core Foundation.

DeFi Technologies' participation is expected to significantly increase the staked BTC on the Core Chain network, which currently stands at 2,813 BTC, according to Core Chain's website.