Staking Drives 60% of ETH Treasury Revenue Amid $1.41B Net Losses
A study by staking provider Everstake reveals that staking accounted for 60% of disclosed revenue among publicly listed Ethereum treasury firms in 2025, despite combined net losses of $1.41 billion. Companies like Bit Digital saw ETH staking rewards surge 287% year-over-year to $7 million. Everstake's COO Bohdan Opryshko emphasized that active capital deployment through staking, liquid staking, DeFi lending, and MEV capture is now essential for business sustainability. The report, based on filings from 15 companies through May 2026, notes that spot ETH ETFs have removed the monopoly of digital asset treasuries (DATs) for regulated crypto exposure, making yield a key differentiator. Many DAT stocks trade at a discount to their crypto holdings, indicating investor reluctance to pay a premium for passive exposure. Staking has become a structural floor for DATs to remain relevant, raising questions about the survival of passive accumulators in a repriced market.
Key facts
- Staking contributed 60% of disclosed revenue for ETH treasury firms in 2025.
- Combined net losses for these firms reached $1.41 billion despite staking gains.
- Bit Digital's ETH staking rewards surged 287% year-over-year to $7 million.
- Spot ETH ETFs have removed DATs' monopoly on regulated crypto exposure.
- DAT stocks trade at a discount, signaling investor preference for yield over passive holdings.