Bitmine Swaps Staking Manager for Lower-Fee American Validator Deal
BMNR sits 94% above its 52-week low of $12.8.
Summary
Bitmine terminated its staking management agreement with Ethereum Tower and signed a new deal with American Validator at a simplified 1.50% fee on staking rewards. The filing also reports ETH holdings of 5.93 million tokens and total crypto and cash holdings of $15.7 billion.
Key Events · Corporate Governance and Compliance · BMNR
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Staking Management Agreement Terminated
Effective September 3, 2026, BMNR Subsidiary One and Ethereum Tower LLC mutually terminated their Management Services Agreement with no material early termination penalties.
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New Lower-Fee Advisory Agreement
The Company Subsidiary entered into a new services agreement with American Validator LLC, an affiliate of Ethereum Tower, at a simplified fee of 1.50% of staking rewards on Company-staked Ethereum.
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ETH Holdings Reach 5.93 Million Tokens
As of September 7, 2026, Bitmine holds 5,929,198 ETH (4.9% of total ETH supply), with total crypto and cash holdings of $15.7 billion.
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Projected Annualized Staking Revenue
Annualized staking revenues are projected at $330 million, with potential to reach $386 million at full scale when all ETH is staked.
Analysis · BMNR · Crypto Assets
A materially lower fee structure could improve staking economics after Bitmine terminated its Management Services Agreement with Ethereum Tower LLC and replaced it with a new advisory agreement with American Validator LLC at a simplified 1.50% fee on staking rewards. The prior revenue participation model is now replaced. The filing also discloses updated operational metrics: ETH holdings reached 5.93 million tokens (4.9% of supply), total crypto and cash holdings hit $15.7 billion, and projected annualized staking revenue is $330 million. The termination was mutual with no material early termination penalties, and the new agreement is with an affiliate of the prior service provider, suggesting continuity of operations with improved terms.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 30.2% of the 2009 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.11%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BMNR was trading at $24.79 on NYSE in the Crypto Assets sector, with a market capitalization of approximately $15.1B. The 52-week trading range was $12.80 to $65.60. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.