Bitmine Generates $45.7 Million From Ethereum Staking, Representing 98% Of Revenue

businesscompany-earningscrypto 10 posts · 7 accounts

Bitmine generated $45.7 million in Ethereum staking and validation revenue for the quarter ended May 31, according to a recent 10-Q filing. The earnings make up 98% of the company's total revenue, a sharp increase from the $2 million reported a year ago that was driven primarily by machine leasing.

Bitmine has staked approximately 4.9 million ETH through its MAVAN platform, representing 85% of its holdings. Chairman Tom Lee stated that annualized staking rewards are projected to reach $284 million once all Ethereum holdings are deployed through MAVAN and its partners.

From the sources (10 posts)

@wublockchain

BitMine Buys 27,801 ETH, Holdings Reach 5.77M ETH BitMine said it acquired 27,801 ETH over the past week, lifting total holdings to 5,770,038 ETH, or about 4.8% of Ethereum’s supply, and has staked 4,917,189 ETH. As of July 12, the compa

@coinmarketcap

JUST IN: 💰 Bitmine acquired another 27,801 ETH, bringing its total holdings to 5.77M ETH — 4.8% of the Ethereum supply.

@theblockco

THE BLOCK: Bitmine $BMNR announced that its Ethereum holdings reached 5.77 million ETH tokens, or 4.8% of the total supply. The company said its combined crypto, cash, and marketable securities holdings totaled $11.3 billion as of July 12.

@coingecko

JUST IN: BitMine Immersion purchases another 27,801 Ethereum.

@lookonchain

Strategy neither sold nor bought back any $BTC last week. But Tom Lee(@fundstrat)'s #Bitmine continued accumulating $ETH, buying another 27,801 $ETH($49.12M) last week.

@kalshi_crypto

JUST IN: Tom Lee's 'BitMine' buys $49M worth of Ethereum

@lookonchain

It seems that Tom Lee(@fundstrat)'s #Bitmine bought another 6,000 $ETH($11.18M) from #FalconX 7 hours ago.

@theblockco

NEW: Tom Lee's Bitmine bought 6,000 ETH (worth $11.2 million) via FalconX on Tuesday, according to Lookonchain.

@wublockchain

Bitmine Generated $45.7M from ETH Staking Last Quarter, 98% of Revenue According to Bitmine’s latest 10-Q filing, Bitmine Immersion Technologies generated $45.7 million in Ethereum staking and validation revenue for the quarter ended May 3

@blckchaindaily

🚨 BITMINE GENERATED $45.7M FROM ETH STAKING LAST QUARTER, 98% OF REVENUE; STAKED 4.9M ETH VIA MAVAN PLATFORM $ETH

Market impact

18 small

BMNR ETH

Why it matters: BitMine's disclosure that 98% of quarterly revenue ($45.7M) now comes from ETH staking validates its crypto-treasury/staking model and moves its own stock, with a light positive read-through to ETH given its large accumulated holdings, but no genuine sector spillover.

At publish time: Headline facts alone flag it: a 10-Q showing staking is 98% of revenue vs $2M a year ago, plus Tom Lee's $284M annualized projection — a single-name revenue-mix disclosure, not a market-wide catalyst.

model confidence: medium

What happened next

1–2 weeks later

mixed moved up

Staking model validated as ETH staking ratio hit record 33.9% and exit queue emptied, but BitMine cut ETH buys and shifted $85M to buybacks, softening the accumulation read-through.

based on follow-up coverage

Follow-up coverage

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