Bitmine posts $45.7M from Ethereum staking

Bitmine Immersion Technologies recorded $45.7 million in revenue from Ethereum staking last quarter, accounting for 98% of total revenue. The company staked 85% of its ETH holdings, about 4.9 million Ether, following the March launch of its MAVAN institutional staking platform. Chairman Tom Lee projected $284 million in annualized staking rewards once fully staked.