Bitmine Immersion Technologies reported $45.7 million in Ethereum staking and validation revenue for the quarter ended May 31, accounting for 98% of total revenue, according to its latest 10-Q filing. The company generated about $2 million in revenue a year earlier, mainly from machine leasing. Bitmine said its institutional Ethereum staking platform, MAVAN, has staked about 4.9 million ETH, representing 85% of its holdings. The company expects staking rewards to increase as more ETH is deployed.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
NEAR price is showing the usual crypto contradiction: the protocol is working on infrastructure that…
Canary Capital CEO Steven McClurg said he expects XRP to emerge as the leading protocol…
Crypto prices are pausing today after a powerful week of gains, and the timing lines…
BGB price is back at a familiar decision point, and Bitget's latest trading campaign arrives…
Bitcoin price is surrounded by bullish calls again, and that alone is enough to make…
After spending months under pressure, Cardano (ADA) is showing fresh strength as the broader crypto…
