BitMine Immersion Technologies Emerges as Largest Corporate Holder of Ethereum

The former Bitcoin miner now controls 5.77 million ETH after shifting its business to staking, which generated nearly all of its $46.5 million quarterly revenue.

BitMine Immersion Technologies reported that staking now accounts for 98 percent of its revenue. The company posted $46.5 million in total revenue for the quarter that ended May 31. Its primary business has moved from Bitcoin mining to Ethereum staking, a change that has positioned it ahead of every other corporation in ETH holdings.

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