Bitmine now has more than 5 million ETH staked, turning most of its Ether holdings into a recurring income stream as it continues to accumulate.
Bitmine Immersion Technologies added to its Ether holdings last week while projecting hundreds of millions of dollars in annual staking revenue, highlighting how its massive ETH treasury could generate income even during volatile market conditions.
In a Monday announcement, Bitmine said it acquired 27,180 ETH last week, bringing its holdings to more than 5.95 million ETH, worth roughly $15.4 billion and representing about 4.9% of Ether’s circulating supply. Including cash and other crypto assets, Bitmine reported total holdings of approximately $15.8 billion.
Bitmine said more than 5.06 million ETH is now staked, generating an estimated $334 million in annualized staking revenue at current rates.
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