Kleros Founder’s ETH Tax Proposal Puts Bitmine’s $258M Revenue at Risk

The article says a proposal on Ethereum Research could let ETH validators vote to redirect up to 10% of staking rewards to public goods funding. If a majority of staked ETH signals above zero, the chosen redirection rate would apply to all validators, potentially reducing net staking income across the network. The biggest market focus is Bitmine, which has 4.72 million ETH staked through its MAVAN platform and depends heavily on staking revenue: the company projects $258 million in annual net staking revenue, with a possible $50 million to $100 million annual hit under broader scenarios. The piece argues this is a protocol-level governance risk that Bitmine cannot offset through management actions, and it could pressure dividend sustainability and investor returns if adopted. The proposal is still only a forum post and not yet an Ethereum Improvement Proposal, so immediate impact is limited but the direction is bearish for ETH staking economics.