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
Hey Anon Announces Launch of “Pandora” Prediction Market on Ethereum
Hey Anon launches Pandora, a decentralized AI-driven prediction market on Ethereum, empowering users to create transparent markets without central control. The platform features unique AI consensus mechanisms and aims to innovate the prediction market landscape.
CoinDesk37m ago
Yesterday, the US spot BTC ETF had a net outflow of $225.5 million, and the ETH ETF had a net outflow of $48.5 million.
Gate News Report, March 28 - According to monitoring by Farside, yesterday (March 27), the U.S. spot Bitcoin ETF saw a net outflow of $225.5 million, marking two consecutive trading days of net outflows. Yesterday, the U.S. spot Ethereum ETF had a net outflow of $48.5 million, resulting in eight consecutive trading days of net outflows.
GateNews1h ago
The chain remains, but the people are gone! Ethereum veteran of 10 years: the middle layer has been completely wiped out, and in the future, there will only be heaven and earth left.
Ethereum developer Chen Pin reflects on the past decade, pointing out that the middle layer of the blockchain industry has disappeared, and the future will move toward two extremes: "trusted neutrality" or toolization. He reviewed the development of the past three phases and questioned the potential idealism or pragmatism direction for the future.
CryptoCity1h ago
Yesterday, the U.S. spot Ethereum ETF saw a net outflow of $48.5 million, marking eight consecutive trading days of net outflows.
BlockBeats news, on March 28, according to Farside monitoring, yesterday the U.S. spot Ethereum ETF had a net outflow of 48.5 million dollars, marking eight consecutive trading days of net outflows.
BlockBeatNews1h ago
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.
GateNews3h ago
