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Bitmine's staking revenue from Ethereum reached $45.7 million last quarter, accounting for 98% of its total revenue.
Svmuu News: Bitmine Immersion Technologies’ latest 10-Q filing shows that,for the three months ended May 31, its staking and validation revenue from Ethereum totaled $45.7 million, accounting for 98% of total revenue—exceeding the $624,000 in revenue from self-mining Bitcoin and the $168,000 in revenue from consulting services.Bitmine said Monday that it has staked 85% of its ETH holdings, approximately 4.9 million ETH.Bitmine Chairman Tom Lee stated that the amount of ETH staked by Bitmine exceeds that of any other entity globally, and if all of its ETH is fully staked through MAVAN and staking partners, annualized ETH staking rewards are projected to reach $284 million. (Cointelegraph).
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