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Ethereum treasury firms derive 60 percent of revenue from staking, operations emerge as key

Staking is emerging as a core revenue pillar for listed Ethereum (ETH) treasury firms. Everstake analysed 15 listed Ethereum treasury companies with available disclosures and results through May 2026 and found about 60 percent of disclosed 2025 revenue came from staking. The finding comes as the firms posted large combined losses, including a $1.41 billion aggregate net loss for fiscal 2025. Strategy is shifting from holding to active asset management as spot Ethereum ETFs reduce indirect exposure advantages.