Bitmine Immersion Technologies said in its latest 10-Q filing that Ethereum staking and validator revenue reached $45.7 million in the three months ended May 31, accounting for 98% of the company’s total revenue. The filing shows that Bitcoin self-mining generated $624,000 during the same period, while consulting services contributed $168,000. On Monday, Bitmine said it had staked 85% of its ETH holdings, or about 4.9 million ETH. Chairman Tom Lee said the company has more staked ETH than any other entity globally. He also said that if all of Bitmine’s ETH is fully staked through MAVAN and staking partners, annualized ETH staking rewards could reach $284 million. The update was reported by Cointelegraph and cited by Odaily.
Bitmine Immersion Technologies said in its latest 10-Q filing that Ethereum staking and validator revenue totaled $45.7 million in the three months ended May 31, representing 98% of its total revenue.
During the same period, the company reported $624,000 in revenue from self-mined Bitcoin and $168,000 from consulting services.
Bitmine said on Monday that it has staked 85% of its ETH holdings, or about 4.9 million ETH. Chairman Tom Lee said Bitmine has more staked ETH than any other entity globally. He added that if all of the company’s ETH is fully staked through MAVAN and staking partners, annualized ETH staking rewards could reach $284 million.
The update was reported by Cointelegraph.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
