{"id":34522,"date":"2026-07-15T11:34:27","date_gmt":"2026-07-15T11:34:27","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitmine-earns-45-7m-from-eth-staking-as-revenue-jumps-22-fold\/"},"modified":"2026-07-15T11:34:47","modified_gmt":"2026-07-15T11:34:47","slug":"bitmine-earns-45-7m-from-eth-staking-as-revenue-jumps-22-fold","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitmine-earns-45-7m-from-eth-staking-as-revenue-jumps-22-fold\/","title":{"rendered":"BitMine earns $45.7M from ETH staking as revenue jumps 22-fold"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">BitMine Immersion Technologies generated $45.7 million from Ethereum staking and validation during the three months ended May 31, making staking its main source of revenue.<\/p>\n<div id=\"cn-block-summary-block_d4d1e6b55b97cc638686b916486cf44f\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Ethereum staking generated $45.7 million, accounting for 98% of BitMine\u2019s total quarterly revenue in May.<\/li>\n<li>BitMine now stakes 4.9 million ETH, equal to roughly 85% of its Ethereum treasury holdings.<\/li>\n<li>Tom Lee projects $284 million in annual rewards once BitMine fully stakes its ETH treasury.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>The figure represented 98% of the company\u2019s $46.5 million in total quarterly revenue, <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1829311\/000162828026048157\/bmnr-20260531.htm\" target=\"_blank\" rel=\"nofollow\">according<\/a> to its latest 10-Q filing with the SEC.<\/p>\n<p>A year earlier, BitMine reported total quarterly revenue of just $2.05 million. Machine leasing contributed $1.08 million, while Bitcoin self-mining generated $813,000. The latest results show how sharply the company\u2019s business has shifted toward Ethereum after building one of the world\u2019s largest corporate ETH treasuries.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Ethereum staking becomes BitMine\u2019s core revenue source<\/strong><\/h2>\n<p>BitMine began native Ethereum staking in November 2025 and later launched the Made in America Validator Network, or MAVAN, in March 2026. The institutional platform provides validator and staking infrastructure and is designed to expand beyond BitMine\u2019s own treasury to serve custodians and other institutional clients.<\/p>\n<p>The company also acquired Australian staking infrastructure provider Pier Two in March. The business contributed $3.53 million of quarterly staking revenue and now operates under the MAVAN brand. BitMine said staking and validation generated $56.9 million during the nine months ended May 31, or 95% of its total revenue for the period.<\/p>\n<h2 class=\"wp-block-heading\"><strong>BitMine now has 4.9 million ETH staked<\/strong><\/h2>\n<p>BitMine has continued expanding its Ethereum position since the quarter ended. As of July 12, the company held 5.77 million ETH and had 4,917,189 ETH staked through its operations and staking partners, equal to about 85% of its total holdings.<\/p>\n<p>Notably, BitMine has steadily increased both its ETH treasury and the share placed into staking. Its long-term strategy targets ownership of 5% of Ethereum\u2019s total supply, a goal Chairman Tom Lee calls the \u201cAlchemy of 5%.\u201d<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\"><strong>Tom Lee projects $284M in annual staking rewards<\/strong><\/h2>\n<p>Lee said BitMine could generate about $284 million in annualized ETH staking rewards once its entire Ethereum balance is staked through MAVAN and partner platforms. The estimate uses a recent seven-day annualized yield of 2.70%. The figure remains a projection and could change as Ethereum staking yields, ETH prices and validator conditions move.<\/p>\n<p>The company itself identified that dependence as a business risk. Its SEC filing said staking and validation revenue is highly concentrated in MAVAN-related operations. Lower staking yields, validator disruption, Ethereum protocol changes or regulatory developments could therefore have a direct effect on future revenue.<\/p>\n<h2 class=\"wp-block-heading\"><strong>BitMine shifts away from its Bitcoin mining roots<\/strong><\/h2>\n<p>The quarter also showed how small BitMine\u2019s older business lines have become. Bitcoin self-mining generated $624,000, while consulting brought in $168,000. Machine leasing and mining equipment sales produced no revenue after the company ended those operations.<\/p>\n<p>Despite the revenue increase, BitMine reported a quarterly net loss of $83.6 million, driven partly by derivative losses and other expenses. The results show that staking has become the company\u2019s dominant operating revenue engine, but its overall financial performance remains exposed to Ethereum prices, staking economics and its wider treasury strategy.<\/p>\n<p>Recent crypto.news coverage showed BitMine\u2019s ETH holdings reaching 5.77 million tokens as it moved closer to its 5% supply target. With about 4.9 million ETH already staked, future earnings will increasingly depend on whether MAVAN can maintain its validator performance and expand into institutional staking services.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BitMine Immersion Technologies generated $45.7 million from Ethereum staking and validation during the three months ended May 31, making staking its main source of revenue. Summary Ethereum staking generated $45.7&hellip;<\/p>\n","protected":false},"author":1,"featured_media":24185,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-34522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/34522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=34522"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/34522\/revisions"}],"predecessor-version":[{"id":34523,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/34522\/revisions\/34523"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/24185"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=34522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=34522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=34522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}