Ethereum’s revenue declines to 600 million USD – Is BMNR’s Ethereum strategy under threat?

Ethereum’s revenue plummeted from 2.52 billion USD to 604 million USD in 2025, influenced heavily by Layer-2 solutions capturing transaction value.

BitMine’s holdings of 3.66 million ETH and recent acquisitions have not notably affected prices, with BMNR down by 9.17%, raising questions on their speculative ETH accumulation strategy.