BitMine’s Ethereum staking business is highly dependent on third-party operator Ethereum Tower. The two parties signed a 10-year management agreement. If BitMine terminates the cooperation early in the event of a breach by a party other than the operator, Ethereum Tower may choose to continue receiving a revenue share for the remaining term, or receive a one-time compensation based on the formula set out in the agreement. Since about 98.3% of BitMine’s quarterly revenue comes from staking and verification, the agreement may increase the company’s cost to change operators and affect its business adjustment flexibility. (CryptoSlate)

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LPSurfer
· 7h ago
98% of revenue comes from staking, and operator access puts the system “one neck” in a chokehold—BitMine directly shuts down. Under these terms, switching operators is so costly that you have to think it through carefully before investing.
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StopLossAnchor
· 7h ago
The protocol is signed for ten years—like a slave contract; if you want to terminate it, you have to strip off your skin first.
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KLineCrusher
· 7h ago
A ten-year contract, and if you break it early you still have to make up the remaining profit share—doesn’t that effectively amount to a lock-in? Ethereum Tower is sure to turn a profit with no losses, and BitMine’s operational autonomy is basically zero.
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