Staking Now Drives 60% of Revenue at Ethereum Treasury Firms
Staking accounted for 60% of disclosed revenue across publicly listed Ethereum (ETH) treasury firms in 2025, according to a new study from staking provider Everstake released Tuesday. The finding runs counter to massive combined net losses booked by ETH treasury firms. Staking Drives 60% of ETH Treasury Revenue Among companies that separately disclosed staking-related revenue, yield generation has become a key operational signal. For example, Bit Digital reported $7 million in ETH staking rewards for 2025, up 287% year over year. Everstake said staking is now a “major contributor to reported top-line performance.” The yield uplift arrives just as net losses pile up on the income statement. Treasury firms in with available FY2025 results lost a combined $1.41 billion as the broader crypto market slid. Specific filings illustrate the damage.Sharplink Inc posted a $734.6 million net loss on $28.1 million in revenue.Bit Digital recorded an $80.3 million net loss against $113.6 million in revenue.BTCS Inc. logged a $33.4 million net loss on $16.5 million in revenue. BitMine Immersion Technologies booked a $9.02 billion net loss across the six months ending February 28. Other firms in the cohort posted similarly heavy losses. Everstake Co-Founder and COO Bohdan Opryshko said passive holders face structural repricing. He explained that revenue