Bitmine Generated $46M from Ethereum Staking Last Quarter
Bitmine generated $45.7 million from Ethereum staking last quarter, with staking accounting for 98% of revenue after the launch of its institutional validator platform.
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Bitmine generated $45.7 million from Ethereum staking last quarter, with staking accounting for 98% of revenue after the launch of its institutional validator platform.
Bitmine Generated $46M from Ethereum Staking Last Quarter
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Written by
Felix Ng
staff editor
Reviewed by
Felix Ng
staff editor
Written by
Felix Ng
staff editor
Reviewed by
Felix Ng
staff editor
Bitmine generated $46M from Ethereum staking last quarter
Latest News
Published
Jul 15, 2026
Ethereum staking generated 98% of Bitmine’s revenue last quarter as the company’s pivot from Bitcoin mining gained momentum following its March validator launch.
Bitmine Immersion Technologies recorded $45.7 million in revenue from Ether staking and validation last quarter, following the launch of its institutional-grade Ethereum staking platform in March.
Staking revenue accounted for 98% of total revenue for the three months ended May 31, far outpacing the $624,000 from self-mining Bitcoin (BTC) and the $168,000 from consulting services, according to Bitmine’s
latest
10-Q filing. On Monday, Bitmine
said
it had staked 85% of its ETH holdings, equating to around 4.9 million Ether (ETH).
“Bitmine has staked more ETH than other entities in the world. At scale (when Bitmine’s ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward is $284 million on an annualized basis,” said Tom Lee, chairman of Bitmine.
The latest quarterly results show how
Bitmine’s pivot
to Ethereum has reshaped its revenue mix. A year ago, Bitmine recorded just $2 million in total revenue for the quarter ended May 31, 2025, primarily from machine leasing.
The results also reflect
the March launch of MAVAN
, an institutional-grade Ethereum staking platform that operates validator infrastructure for its own holdings and external clients.
Related:
Ethereum backers launch nonprofit to lead institutional adoption efforts
MAVAN, short for “Made in America VAlidator Network,” followed the acquisition of Australia-based non-custodial validator operator Pier Two Holdings. It was originally developed to support Bitmine’s own Ethereum treasury; its scope expanded to serve institutional investors, custodians and ecosystem partners.
Lee calls Robinhood Chain a “breakaway success”
On Monday, Lee highlighted the success of the newly launched Robinhood Chain, with dollar volumes exceeding $1 billion since its July 1 launch.
“Robinhood Chain now has more trading volume than any other decentralized exchange (DEX), demonstrating the outstanding utility and product market fit for Ethereum, which is the underlying chain,” he said.
“Robinhood Chain uses ETH as the native gas token. And transaction fees are denominated in ETH and the finality is settled on Ethereum. Robinhood’s 27 million users are paying crypto fees denominated in ETH. In other words, everyday users are starting to see ETH as money,” he added.
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Staking
Tom Lee
Ethereum
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Original YayaNews editorial coverage, published for informational purposes.
This article is sourced from CoinTelegraph. It is for informational purposes only and does not constitute investment advice.
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