POPA ReconBitmine Generated $45.7M from ETH Staking Last Quarter, 98% of Revenue
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 31, accounting for 98% of total revenue. A year earlier, the company recorded just $2 million in revenue, primarily from machine leasing. Bitmine said its institutional-grade Ethereum staking platform MAVAN, launched in March, has staked about 4.9 million ETH, or 85% of its holdings. Chairman Tom Lee said annualized ETH staking rewards are expected to reach $…
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