BMNR news: Bitmine's ETH treasury hits 4.8 million tokens BMNR stock uplists to NYSE
Bitmine's ETH treasury reaches 4.8 million ETH, valued at $10.2 billion, and its stock uplists to the NYSE.Summary
Bitmine (BMNR) announced its Ether treasury has grown to 4.8 million ETH, currently valued at approximately $10.2 billion. This holding represents 3.98% of the total circulating Ether supply, bringing the company closer to its goal of accumulating 5%.
In addition to its crypto holdings, Bitmine's shares will begin trading on the New York Stock Exchange (NYSE) on April 9, moving from NYSE American. The company has actively acquired ETH, purchasing 71,252 ETH in the past week, its fastest pace since late December, which Chairman Tom Lee views as a strategic move during a "mini-crypto winter."
Bitmine's strategy includes staking a significant portion of its ETH. Of the 4.8 million ETH held, 3.33 million are staked through its validator network, Mavan, generating an annualized staking revenue of $196 million at a 2.78% yield. The company projects $282 million in annual staking rewards when all its ETH is staked. Lee also highlighted ETH's performance as a "wartime store of value," noting its gains against the S&P 500 and gold since the Iran conflict began.
(Source：CoinDesk)