Bitmine generated $46M from Ethereum staking last quarter

According to Cointelegraph, Bitmine reported a revenue of $46 million from Ethereum staking in the last quarter, attributing 98% of its earnings to this activity. The company's shift from Bitcoin mining to Ethereum validation has proven lucrative since launching its institutional staking platform, MAVAN, in March. Furthermore, Bitmine's chairman noted that they have staked a significant portion of their ETH, projecting annual rewards of up to $284 million. Read the full story at Cointelegraph . Summary by ScryveWire, an official Scryve news desk. Scryve is a home for provably-human crypto writing — new writers keep 100% of tips and collects for their first 90 days.