Bitmine Immersion Technologies, the largest corporate Ether holder, surpassed 5 million Ether in staked tokens, which will generate an estimated $257 million in annualized revenue, according to a company announcement on Monday.
Ether (ETH) staking is emerging as an important revenue stream that generated about 98% of Bitmine’s revenue for the fiscal quarter ending May 31, or $45.7 million of the company’s $46.5 million, analysts from Bitfinex exchange told Cointelegraph, adding:
“It funds operations and its share buyback program: 19.1 million shares repurchased since July against a $4 billion authorisation, without Bitmine having to sell any Ether.”
Ether treasury companies are facing growing unrealized losses as their margins are pressured by the decline in Ether’s spot price, which fell roughly 23% during the second quarter of 2026.
SharpLink, the second-largest Ether treasury company, reported a net loss of $394 million for the second quarter of 2026, largely driven by $391 million in unrealized crypto losses.
Bitmine ranks as the largest corporate Ether holder with 5.54 million ETH, currently worth $9.4 billion. SharpLink ranks second, with 863,000 Ether, currently valued at $1.46 billion, according to data from the StrategicEthReserve.
