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BitMine Sees No Need to Sell Ethereum Amid Staking Rewards Bonanza

Guavy AI Editorial Team
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ETH
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Tom Lee, chairman of BitMine Immersion Technologies Inc., says that the company has no reason to sell its Ethereum holdings due to staking rewards exceeding $300 million a year.

This amount covers roughly $30 million to $35 million in annual preferred dividends, leaving a significant margin for the company.

BitMine currently holds about 4.8% of the total Ethereum supply, which is short of its target of 5%. However, Lee believes that it would make sense for enterprises to start holding ETH and BitMine will reassess this goal next year.

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