Bitmine projects $334M in annual staking revenue from $15.8B crypto treasury

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.With roughly 85% of its ETH now staked, Bitmine is turning its crypto treasury into a potentially significant source of recurring revenue. For comparison, Grayscale Ethereum Staking ETF (ETHE), the first spot Ether US exchange-traded product, has 84.6% of its Ether holdings staked, according to the fund’s webpage.The company’s strategy also offers a key advantage over Bitcoin treasury companies, whose core BTC holdings do not generate native staking yield. Bitmine shares were little changed o...