Ethereum Staking Generates 98% Of Bitmine’s Quarterly Revenue

Bitmine Immersion Technologies Inc. reported that Ethereum staking generated 98% of its quarterly revenue, totaling approximately $45.7 million to $47 million for the period ending May 31. According to the Form 10-Q filed with the SEC, this financial result marks a fundamental shift in the blockchain infrastructure company's corporate operating model. This dominance in Ethereum staking signals increasing institutional trust in the staking model and its potential impact on the broader market.