BitMine Snaps Up Another 28,086 ETH, Staking 85% for Estimated $330M Revenue

BitMine Immersion Technologies has continued its Ethereum treasury strategy by purchasing another 28,086 ETH, bringing its total holdings to 5.929 million ETH valued at around $14.78 billion.

The company staked most of its Ethereum through its Made in America Validator Network (MAVAN), which means approximately 85% of its Ethereum is committed to staking.

This position produces an estimated $330 million in annualized staking revenue, allowing ETH holders to help secure the Ethereum network and validate transactions in exchange for rewards.