Express
BitMine expects $400 million in revenue from Ethereum holdings, investment in MrBeast could bring 10x return
Summary: According to CoinDesk, Tom Lee, chairman of BitMine, the world's largest Ethereum treasury company, stated at Thursday's shareholder meeting that BitMine expects over $400 million in annual pre-tax revenue from its $13 billion Ethereum holdings, with most coming from staking. Lee also mentioned that BitMine may have saved around $400 million in Ethereum purchases over ...
According to CoinDesk, Tom Lee, chairman of BitMine, the world's largest Ethereum treasury company, stated at Thursday's shareholder meeting that BitMine expects over $400 million in annual pre-tax revenue from its $13 billion Ethereum holdings, with most coming from staking. Lee also mentioned that BitMine may have saved around $400 million in Ethereum purchases over the past few months. Despite cost savings, BitMine's current holdings, acquired since July last year, are still at a loss of around $2.3 billion. In a recent disclosure on Thursday, BitMine invested $200 million in Beast Industries, owned by popular YouTuber MrBeast, with Lee stating that this investment is a wise choice and could easily bring a 10x return. Lee added that BitMine plans to launch a mobile app, with limited details currently available, and will make significant investments in tokenization.
Tags:
Link: BitMine expects $400 million in revenue from Ethereum holdings, investment in MrBeast could bring 10x return [Copy]
