BitMine grows Ethereum treasury to 4.37 million ETH, sees $252 million annual staking revenue via MAVAN
The Block
BitMine's ETH holdings reached 4.37 million, projecting $252 million in annual staking revenue through its MAVAN network.Summary
BitMine Immersion Technologies (BMNR) announced its Ethereum holdings have increased to 4,371,497 ETH. The company anticipates generating up to $252 million in annual staking revenue once its Made in America Validator Network (MAVAN) is fully deployed, up from the current annualized rate of $176 million based on recent yields. The firm's total crypto, cash, and strategic investments are valued at $9.6 billion, primarily consisting of $8.7 billion in ETH (at $1,998 per token) and $670 million in cash. Chairman Tom Lee reaffirmed the company's commitment to continuous ETH accumulation despite market downturns, viewing balance sheet volatility as a feature, similar to traditional index ETFs.
(Source：The Block)