Bitmine generated $46M from Ethereum staking last quarter
Cointelegraph 2026-07-15 01:28:14
Context: Bitmine, a company that has shifted its focus from Bitcoin mining, generated significant revenue from Ethereum staking in the last quarter. The company's Ethereum staking operations began in March, and it has since seen a substantial increase in revenue from this area. This development comes as Bitmine continues to pivot away from its previous focus on Bitcoin mining.
Key Facts
- Ethereum staking accounted for 98% of Bitmine's revenue in the last quarter, marking a significant shift in the company's business model.
- Bitmine launched its Ethereum validator in March, which enabled the company to start generating revenue from staking.
- The company generated $46 million in revenue from Ethereum staking in the last quarter, highlighting the success of its pivot away from Bitcoin mining.