Bitmine's ETH Treasury Nears 5% of Supply as Shares Uplist to NYSE
Key Takeaways
- Holds 4.8 million ETH, about 3.98% of circulating supply.
- Generates $196 million annual staking revenue.
- Approved to uplist to the New York Stock Exchange.
Treasury Growth and NYSE Uplisting
Bitmine bought 71,252 ETH in a single week to reach 4.8 million tokens worth $10.2 billion.
“Bitmine's ether treasury hits 4”
The company uplisted from NYSE American to the New York Stock Exchange.
Tom Lee framed the buying as a bet on the final stages of the mini-crypto winter.
Bitmine currently stakes 3.33 million ETH generating $196 million in annualized revenue.
Total crypto and cash holdings stand at $11.4 billion.
Staking as Revenue Engine
Bitmine has 3.33 million ETH staked via its MAVAN network.
The staking generates about $196 million in annualized revenue.
Bitmine projects up to $282 million in annual staking rewards at full deployment.
Bitmine has bought more than 40,000 ETH each week for at least 10 consecutive weeks.
Cash, Bitcoin, and Diversification
Bitmine's treasury includes $864 million in cash and 198 BTC.
“Bitmine's ether treasury hits 4”
The company has smaller positions in Beast Industries and Eightco Holdings.
Bitmine's shares have become some of the most heavily traded in the U.S.
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