BlockBeats News, January 16 — According to CoinDesk, Tom Lee, Chairman of the world’s largest Ethereum treasury company BitMine, stated at the shareholder meeting on Thursday that BitMine expects its $13 billion Ethereum holdings to generate over $400 million in annual pre-tax income, mostly from staking these holdings.
Tom Lee also mentioned that BitMine may have saved approximately $400 million in its Ethereum buying operations over the past few months. Despite the cost savings, since beginning to purchase Ethereum in July last year, the company’s current holdings are still approximately $2.3 billion in unrealized losses.
Earlier on Thursday, BitMine disclosed an investment of $200 million in Beast Industries, owned by well-known YouTuber MrBeast. Tom Lee called this bet “an obviously wise choice” and said, “I believe we can achieve a leapfrog return of ten times on this investment.” He also added that BitMine plans to launch a mobile app, although details are still limited, and will make “leapfrog” investments in the tokenization field.
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