According to PANews, BitMine Chairman Thomas Lee announced during a shareholder meeting on Thursday that the company anticipates generating over $400 million in annual pre-tax revenue from its $13 billion Ethereum assets. The majority of this income is expected to come from staking these holdings. Lee mentioned that the company potentially saved $400 million in its recent Ethereum acquisitions. However, since beginning its Ethereum purchases in July last year, BitMine is currently facing an unrealized loss of approximately $2.3 billion.
Lee also discussed the company's $200 million investment in Beast Industries, owned by YouTuber MrBeast, describing it as a 'no-brainer' decision with the potential for a tenfold return. He emphasized that MrBeast is an iconic content creator of this generation, and the partnership could help connect Ethereum with a younger audience.
