分析:BitMine 质押业务高度依赖第三方运营,10 年期协议或抬高提前退出成本

链捕手
3 hours ago

ChainCatcher 消息,据 CryptoSlate 报道,BitMine 的以太坊质押与验证业务高度依赖第三方运营方 Ethereum Tower。根据相关管理服务协议,Ethereum Tower 持有 MAVAN 2% 的不可撤销权益,且该协议初始期限长达 10 年;若 BitMine 在非特定违约情形下提前终止合作,对方仍可选择继续收取剩余期限内的收入分成,或按公式获得一次性补偿。

文件显示,截至 2026 年 5 月 31 日的三个月内,BitMine 质押与验证业务收入为 4574.3 万美元,占总收入 4653.5 万美元的 98.3%。同期公司持有约 541.69 万枚 ETH,价值约 108.56 亿美元,其中约 471.87 万枚已用于质押。报道认为,这意味着 BitMine 的收入表现不仅取决于以太坊质押收益,也受到第三方管理关系及潜在解约成本的明显约束。

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