America

Robinhood

Tom Lee

<p>Bitmine Immersion Technologies reported $45.7 million in revenue from Ether staking and validator operations for the most recent quarter, reflecting a major shift in the company’s business model following the introduction of its institutional-grade <a href="https://en.coin-turk.com/ethereum-network-experiences-a-surge-in-new-wallet-creations/" rel="noopener noreferrer nofollow">Ethereum</a> staking platform in March.</p>
<h2 id="staking-dominates-revenue-streams">Staking dominates revenue streams</h2>
<p>For the three months ending May 31, staking activities contributed approximately 98% of Bitmine’s total revenue, according to the company’s latest 10-Q filing. In contrast, self-mined <a href="https://en.coin-turk.com/bitcoin-price-faces-intense-fluctuations-on-heavy-trading-volume/" rel="noopener noreferrer nofollow">Bitcoin</a> operations generated $624,000, while consulting services added $168,000.</p>
<p>Bitmine disclosed that it has allocated 85% of its Ether holdings—about 4.9 million ETH—into staking. Chairman Tom Lee stated that this is the largest amount of ETH staked by any single entity worldwide.</p>
<blockquote>
 <p>Bitmine’s projected annual ETH staking reward reaches $284 million at full scale, when both the company’s and its partners’ Ether are fully staked through MAVAN and affiliated staking operations.</p>
</blockquote>
<p>A year ago, Bitmine’s quarterly revenue totaled $2 million, driven mainly by equipment leasing, highlighting how the company’s focus on Ethereum staking has transformed its income structure.</p>
<h2 id="launch-and-expansion-of-mavan-platform">Launch and expansion of MAVAN platform</h2>
<p>The launch of MAVAN in March marked a new phase for Bitmine. MAVAN, an institutional-grade Ethereum staking service, manages validator infrastructure on behalf of Bitmine and external customers. The platform emerged after Bitmine’s acquisition of Pier Two Holdings, an Australian operator specializing in non-custodial validator services.</p>
<p>Originally developed to support Bitmine’s own Ethereum treasury, MAVAN has grown to serve institutional investors, custodians, and partners within the Ethereum ecosystem.</p>
<p>Mini dictionary: MAVAN (Made in America VAlidator Network) is a staking and validator infrastructure platform focused on institutional-grade Ethereum staking, supporting both Bitmine’s assets and third-party clients.</p>
<h2 id="robinhood-chain-drives-ethereum-growth">Robinhood Chain drives Ethereum growth</h2>
<p>Bitmine’s chairman Tom Lee also pointed to the rapid success of Robinhood Chain, a new decentralized trading platform that launched on July 1. He reported that dollar trading volumes on Robinhood Chain have already surpassed $1 billion.</p>
<p>According to Lee, Robinhood Chain now handles more trading volume than any other decentralized exchange, underscoring both its significance and the utility of Ethereum as the underlying blockchain.</p>
<blockquote>
 <p>Robinhood Chain, utilizing ETH as its native gas token, has introduced millions of users to Ethereum-based transactions, with all network fees and settlement processes occurring directly on the Ethereum blockchain.</p>
</blockquote>
<p>Lee emphasized that Robinhood’s 27 million users are now paying transaction fees in ETH, signaling a shift toward mainstream viewing of ETH as a form of money within the platform’s ecosystem.</p>
<table>
 <thead>
  <tr>
   <th>Quarter Ended</th>
   <th>Total Revenue</th>
   <th>Staking Revenue</th>
   <th>BTC Mining</th>
   <th>Consulting</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>May 31, 2026</td>
   <td>$45.7 million</td>
   <td>$44.8 million</td>
   <td>$624,000</td>
   <td>$168,000</td>
  </tr>
  <tr>
   <td>May 31, 2025</td>
   <td>$2 million</td>
   <td>Not disclosed</td>
   <td>Majority of revenue</td>
   <td>Minimal</td>
  </tr>
 </tbody>
</table>
<p>The post <a href="https://en.coin-turk.com/bitmine-records-45-7-million-in-eth-staking-revenue-targets-284-million-annually/" rel="noopener noreferrer nofollow">Bitmine records $45.7 million in ETH staking revenue, targets $284 million annually</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Bitmine records $45.7 million in ETH staking revenue, targets $284 million annually

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