BlockBeats News, January 16 — According to CoinDesk, Tom Lee, Chairman of the world’s largest Ethereum treasury company BitMine, stated at the shareholder meeting on Thursday that BitMine expects its $13 billion Ethereum holdings to generate over $400 million in annual pre-tax income, mostly from staking these holdings.
Tom Lee also mentioned that BitMine may have saved approximately $400 million in its Ethereum buying operations over the past few months. Despite the cost savings, since beginning to purchase Ethereum in July last year, the company’s current holdings are still approximately $2.3 billion in unrealized losses.
Earlier on Thursday, BitMine disclosed an investment of $200 million in Beast Industries, owned by well-known YouTuber MrBeast. Tom Lee called this bet “an obviously wise choice” and said, “I believe we can achieve a leapfrog return of ten times on this investment.” He also added that BitMine plans to launch a mobile app, although details are still limited, and will make “leapfrog” investments in the tokenization field.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
21shares will distribute staking rewards to ETH and SOL ETF investors on March 31.
Gate News reported that on March 28, cryptocurrency ETP issuer 21Shares announced that it will distribute staking yield dividends to investors of its Ethereum ETF (TETH) and Solana ETF (TSOL) on March 31. Among them, TETH investors will receive $0.012530 per share, while TSOL investors will receive $0.016962 per share.
GateNews29m ago
A trader liquidated 7008.8 ETH, incurring a loss of approximately $239,000.
Gate News report, on March 28, according to monitoring by Ai Yi, the address starting with 0xAb5 has liquidated its 7008.8 ETH purchased during the market rebound on February 6, incurring a loss of approximately $239,000. This address bought 7008.8 ETH on-chain at a price of $2075 per coin, with a total value of $14.54 million. This portion of ETH was sold in two batches, with part sold two weeks ago and the other part sold six hours ago, resulting in an average selling price of $2041.28.
GateNews1h ago
F2Pool's Chun Wang-Linked Wallet Moves 9,000 ETH to Aave
Gate News bot message, a wallet associated with Chun Wang from F2Pool withdrew 9,000 ETH valued at $17.86 million from centralized exchanges 8 hours ago and deposited the funds into Aave.
The wallet currently holds 79,818 ETH, worth approximately $158.72 million.
GateNews1h ago
