BitMine Immersion Technologies generated 45.7 millions dollars from Ethereum validation and staking during the 3 months ending May 31, which is their main revenue source.
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- BitMine generated revenue of $45.7 Million in May, which is 98% more than the total quarter revenues.
- BitMine is now holding 4.9 millions ETH. That’s about 85% its Ethereum treasury.
- Tom Lee estimates $284 million as the annual reward for BitMine once it has staked out its ETH treasury.
It was 98% the total $46.5 million revenue generated by the company. according The SEC’s latest 10-Q report.
BitMine had reported a total quarterly revenue in the previous year of only $2.05million. The machine leasing generated $1.08m, and Bitcoin self-mining $813k. After building the largest corporate ETH treasury in the world, the latest results reveal how quickly the company shifted its business to Ethereum.
BitMine’s revenue comes primarily from Ethereum staking
BitMine launched MAVAN (Made in America Validator network) in March 2026. The institution platform offers validator and stake infrastructure, and it is intended to extend beyond BitMine’s own treasury in order to service custodians as well as other institutional clients.
Pier Two, a provider of Australian stake infrastructure, was also purchased by the company in March. MAVAN now has a quarterly staking income of $3.53 Million and operates under its MAVAN name. BitMine reported that staking, validation and other revenue generated by BitMine amounted to $56,9 million in the nine-month period ended May 31. This represents 95% of the total revenue.
BitMine has staked 4.9 Million ETH
BitMine continues to grow its Ethereum holdings since the end of last quarter. By July 12, BitMine had 5.77 millions ETH in its possession and 4.917.189 ETH that it staked with its operations or staking partners. This represents about 85% its total holdings.
BitMine, for instance, has a number of notable features. steadily increased The ETH treasury is equal to the staked share. The long-term goal of its strategy is to own 5% of Ethereum’s total supply. Chairman Tom Lee describes this as the “most important” objective. “Alchemy of 5%.”
Tom Lee predicts $284 million in stake rewards annually
Lee stated that BitMine’s entire Ethereum balance could be staked via MAVAN or partner platforms, generating about $284,000,000 in annualized rewards for ETH. This estimate is based off a 7-day, annualized yield rate of 2.7%. The estimate is a projection that may change depending on Ethereum staking returns, ETH price and validator condition changes.
It was the company that identified this dependence as an important business risk. According to its SEC submission, staking revenues and validations are heavily concentrated on MAVAN related operations. Reduced staking returns, disruptions to validators, Ethereum protocol updates or regulatory changes could have an immediate impact on revenue.
BitMine moves away from Bitcoin mining roots
BitMine’s old business lines are also becoming smaller. Bitcoin self-mining brought in $624,000 while consulting brought up $168,000. After the closure of machine leasing and sales, there was no income from these operations.
BitMine’s quarterly net loss was $83.6m, which is largely due to losses on derivatives and other costs. Results show that BitMine’s operating revenue is dominated by staking, though its performance overall remains dependent on Ethereum prices and staking economies, as well as its larger treasury strategies.
Recently, crypto-news has been covered. BitMine’s ETH holdings As it approached its target of 5% token supply, the company produced 5.77 millions more tokens. Future earnings, with 4.9 millions ETH staked already, will depend increasingly on MAVAN’s ability to maintain validator performance and expand institutional staking.
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Source: crypto.news
