Staking Comprises 60% of ETH Treasury Income, Bit Digital Rewards Jump 287%
BTBT•Staking generated 60% of ETH treasury firms’ revenue in 2025, with Bit Digital earning $7 million in staking rewards, a 287% year-over-year jump. Despite the yield gains, the cohort posted combined net losses of $1.41 billion, underscoring persistent profitability pressures.
1. Staking Revenue Sources
Publicly listed ETH treasury firms disclosed that staking accounted for 60% of their 2025 revenue, driven by yield generation. Bit Digital led the cohort with $7 million in staking rewards, marking a 287% increase over the prior year’s figure.
2. Net Losses in 2025
Despite robust staking revenues, the group recorded a combined net loss of $1.41 billion for FY2025. Bit Digital itself reported an $80.3 million net loss on $113.6 million in total revenue, illustrating the gap between top-line growth and bottom-line performance.
3. Business Model Evolution
Treasury firms are shifting from passive asset holdings to active deployment strategies to sustain operations. Techniques now include liquid staking, integration with DeFi lending protocols and advanced validator strategies such as MEV capture and optimized block construction.
