BitMine Immersion Technologies · Ethereum · Bitcoin · Cointelegraph
Bitmine projects $334 million in annual staking revenue from $15.8 billion crypto treasury
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Bitmine now has more than 5 million ETH staked, turning most of its Ether holdings into a recurring income stream as it continues to accumulate.
Key facts
- Strategy repurchased about 1.42 million shares of its STRC preferred stock for $139.3 million between Sept. 8 and Sept. 13
- In a Monday announcement, Bitmine said it acquired 27,180 ETH last week, bringing its holdings to more than 5.95 million ETH, worth roughly $15.4 billion and representing about 4.9% of Ether’s
- Bitmine said more than 5.06 million ETH is now staked, generating an estimated $334 million in annualized staking revenue at current rates
- In the final week of August, Strategy purchased 4,603 BTC for roughly $370 million, marking its first Bitcoin purchase since June
Summary
Bitmine Immersion Technologies added to its Ether holdings last week while projecting hundreds of millions of dollars in annual staking revenue, highlighting how its massive ETH treasury could generate income even during volatile market conditions. In a Monday announcement, Bitmine said it acquired 27,180 ETH last week, bringing its holdings to more than 5.95 million ETH, worth roughly $15.4 billion and representing about 4.9% of Ether’s circulating supply. Bitmine said more than 5.06 million ETH is now staked, generating an estimated $334 million in annualized staking revenue at current rates. With roughly 85% of its ETH now staked, Bitmine is turning its crypto treasury into a potentially significant source of recurring revenue.