Why BitMine’s 98% Revenue From Staking May Be Both Its Biggest Strength and Greatest Constraint
BitMine Immersion Technologies (NYSE: BMNR), chaired by Tom Lee, has rapidly positioned itself as one of the most closely watched public companies in the Ethereum ecosystem. Unlike many crypto firms that generate revenue through a mix of mining, trading, custody, or software services, BitMine has built its business around a single core activity: Ethereum staking.According to the company’s 10-Q filing for the fiscal quarter ended May 31, 2026, BitMine generated $46.5 million in total revenue, of