BitMine Staking Revenue Hits $45.74M in Q2 2026, Highly Dependent on Ethereum Tower Under 10-Year Deal

According to CryptoSlate, BitMine's staking and validation operations are highly dependent on third-party operator Ethereum Tower under a management agreement with an initial term of 10 years. Ethereum Tower holds a non-revocable 2% equity stake in MAVAN and can either continue collecting revenue share if BitMine exits early, or receive one-time compensation calculated by formula.

In the three months through May 31, 2026, BitMine's staking and validation revenue reached $45.74 million, accounting for 98.3% of total revenue of $46.54 million. The company held approximately 5.42 million ETH worth around $10.86 billion, of which 4.72 million ETH was staked.