BitMine Stakes 5.07 Million ETH, Projects $257 Million in Annualized Staking Revenue

BitMine has placed 5,067,309 Ethereum into staking, representing about 87% of its cryptocurrency holdings, the company said. It estimates the staked assets could generate approximately $257 million in annualized revenue.

Its Ethereum position totaled 5,805,238 ETH after the company added 7,391 ETH in the latest week. The company said the overall position represents approximately 4.8% of the ETH supply.

Meanwhile, share repurchases have totaled 19.1 million shares since July, including 3 million purchased in the latest week, BitMine said.

Source: Bitmine Immersion Technologies