Bitmine Immersion Technologies recorded $45.7 million in revenue from Ether staking and validation in the last quarter after launching its institutional Ethereum staking platform in March.
According to Bitmine’s latest 10th quarter filing, staking revenue accounted for 98% of total revenue for the three months ended May 31, far outstripping the $624,000 from self-mining Bitcoin (BTC) and the $168,000 from consulting services. bitmine on monday said I had bet 85% of my stock. $ETH The amount held is approximately 4.9 million ether equivalent ($ETH).
“Bitmine has increased the stakes even more.” $ETH than any other being in the world. At scale (Bitmine) $ETH Fully funded by MAVAN and its stake partners), forecast $ETH The staking reward is $284 million on an annual basis,” said Tom Lee, Chairman of Bitmine.
The latest quarterly results show: Bitmine essentials to Ethereum has restructured its revenue structure. A year ago, Bitmine recorded total revenue of just $2 million in the quarter ended May 31, 2025, primarily from machine leases.
reflected in the results MAVAN released in Marchan institutional-grade Ethereum staking platform that operates validator infrastructure for its own holdings and external customers.
Related: Ethereum backer launches nonprofit organization to lead institutional adoption efforts
MAVAN, which stands for “Made in America VAlidator Network,” followed the acquisition of Pier Two Holdings, an Australian-based non-custodial validator operator. It was originally developed to support Bitmine’s own Ethereum treasury. Its scope has expanded to serve institutional investors, custodians and ecosystem partners.
Lee calls Robinhood chain a “successful escape”
On Monday, Lee highlighted the success of the newly launched Robinhood chain, which has surpassed $1 billion in trading volume since its July 1 launch.
“The Robinhood Chain currently has more trading volume than any other decentralized exchange (DEX), demonstrating superior utility and product-market fit for the underlying chain, Ethereum,” he said.
“Robinhood Chain is $ETH As a native gas token. Transaction fees are displayed as follows: $ETH And in the end, it will be decided by Ethereum. Robinhood’s 27 million users pay cryptocurrency fees denominated in USD. $ETH. In other words, everyday users are starting to see: $ETH As money,” he added.
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