Staking rewards now dominate income for publicly listed ETH treasury firms despite $1.41 billion in combined net losses last year.
Staking generated 60% of disclosed revenue for publicly listed Ethereum treasury firms in 2025, a study found. The shift highlights yield generation as a key performance driver amid broader crypto market declines.
Despite the revenue boost, firms reported massive losses. Combined net losses reached $1.41 billion, with Sharplink Inc posting a $734.6 million loss on $28.1 million revenue. Bit Digital and BTCS Inc also logged losses of $80.3 million and $33.4 million, respectively.
Bit Digital’s staking rewards surged 287% year over year to $7 million. Analysts noted the trend reflects a structural shift toward actively deployed assets rather than idle holdings.