Bitmine said Ethereum staking accounted for 98% of its revenue last quarter as the company continued shifting away from Bitcoin mining. The move followed its March validator launch.
Bitmine said Ethereum staking accounted for 98% of its revenue last quarter as the company continued shifting away from Bitcoin mining. The move followed its March validator launch.
Bitmine reported that Ethereum staking generated $46 million in revenue last quarter, making up 98% of the company’s total revenue. The result highlights how quickly the firm’s business mix has shifted since it launched validators in March.
Bitmine reported that Ethereum staking generated $46 million in revenue last quarter, making up 98% of the company’s total revenue. The result highlights how quickly the firm’s business mix has shifted since it launched validators in March.
The development matters because it shows a public crypto company leaning more heavily on staking income rather than traditional mining operations. For readers and market watchers, it is another example of how digital asset businesses are adjusting their models as different parts of the crypto ecosystem mature.
According to the source, the staking revenue came as Bitmine’s pivot away from Bitcoin mining gained momentum. The company’s March validator launch appears to have been a key step in that transition.
Bitmine’s latest figures may also be of interest to other companies evaluating whether staking can provide a more stable or scalable revenue stream than mining. The report places the company among a growing number of crypto firms exploring ways to diversify beyond legacy mining infrastructure.
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