Bitmine Ethereum Staking Quarterly Revenue Reaches $45.7 Million, Accounting for 98% of Total Revenue

According to Cointelegraph, Bitmine Immersion Technologies' latest 10-Q filing shows that for the quarter ended May 31, 2026, the company recorded $45.7 million in revenue from Ethereum staking and validation services, accounting for 98% of total revenue, far exceeding Bitcoin self-mining revenue ($624,000) and consulting service revenue ($168,000). In comparison, total revenue for the same period in 2025 was only $2 million. Currently, Bitmine has staked 85% of its ETH holdings, approximately 4.9 million tokens, and Company Chairman Tom Lee stated that if all holdings are staked, annualized staking revenue is expected to reach $284 million.