BitMine expects Ethereum Staking to Generate $400 Million in Revenue, Investment in MrBeast Could Lead to 10x Returns
BlockBeats News, January 16th, according to CoinDesk's report, Tom Lee, Chairman of BitMine, the world's largest Ethereum treasury company, stated at a shareholder meeting on Thursday that BitMine expects its $13 billion Ethereum holdings to generate over $400 million in annual pre-tax income, with most of it coming from staking these holdings.
Tom Lee also said that BitMine "may have saved about $400 million" in its Ethereum buying operations over the past few months. Despite the cost savings, BitMine's current holdings, purchased since July last year, are still at a floating loss of about $2.3 billion.
In a disclosure earlier on Thursday, BitMine invested $200 million in Beast Industries, owned by the popular YouTuber MrBeast, Tom Lee called this move a "clearly wise choice." and stated: "I think we can easily get a quantum leap return on this investment—a 10x return." Tom Lee added that BitMine also plans to launch a mobile app, although details are currently limited, and will make a "quantum leap" investment in the tokenization field.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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