Crypto▲ Bullish
Bitmine's $257M Staking Income Outpaces Its May Quarter Pace
Bitmine's staked Ether now generates $257M a year, cushioning the company from price swings that pushed SharpLink to a $394M net loss last quarter.
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Bitmine Immersion Technologies, the largest corporate Ether holder, said Monday its staked position passed 5 million tokens, a level the company projects will generate about $257 million in annualized revenue. The announcement positions staking as the engine of Bitmine's treasury model, not a side business. The estimate rests on current network conditions.
The fiscal quarter ended May 31 shows how central the yield has become. Staking produced $45.7 million of the company's $46.5 million in revenue, roughly 98% of the total, according to analysts at Bitfinex exchange. They described the recurring income as an important financial buffer that fills financial gaps and provides revenue beyond Ether's price appreciation.
The stated annualized run-rate of $257 million is roughly 40% above the May quarter's pace. The quarterly revenue, annualized, comes to about $183 million. The announcement did not say what drove the increase. A larger staked position, a higher APR, or both could account for it. The number shows how much of Bitmine's cash flow now depends on the staking yield rather than on selling tokens.
The backdrop for that growth is a difficult quarter for Ether treasury companies. Analysts at Bitfinex said those companies face growing unrealized losses after Ether's spot price fell roughly 23% in the second quarter of 2026. SharpLink, the second-largest Ether treasury company, reported a net loss of $394 million for the quarter, $391 million of it tied to unrealized crypto losses. Bitmine holds 5.54 million Ether, worth about $9.4 billion. SharpLink holds 863,000 Ether, about $1.46 billion, according to StrategicEthReserve.
The contrast is sharp.