BitMine Bolsters Ethereum Holdings, Staking Efforts Yield Estimated $247M Annual Revenue

BitMine has made significant additions to its Ethereum holdings over the past week, bringing its total to 5,797,813 ETH. This represents about 4.8% of the circulating supply. The company's staking efforts have also been notable, with 85% of its holdings, or approximately 4,917,189 ETH, being staked.

This has led to estimated annualized staking revenue of around $247 million for BitMine. In addition to its Ethereum holdings, the company has also repurchased 4.5 million shares during this time period. Its total crypto assets, cash, marketable securities, and other investments now stand at $11.3 billion.