BitMine expects its Ethereum holdings to generate $400 million in revenue annually, potentially offering a 10x return on MrBeast's investment

BlockBeats News, January 16th, according to CoinDesk's report, Tom Lee, Chairman of the world's largest Ethereum treasury company BitMine, said at Thursday's shareholders' meeting that BitMine expects its $13 billion Ethereum holdings to generate over $400 million in annual pre-tax income, most of which comes from staking these holdings.

Tom Lee also stated that BitMine may have "saved about $400 million" in its Ethereum buy operations over the past few months. Despite the cost savings, BitMine's current holdings, acquired since starting to buy Ethereum in July last year, are still unrealized losses of about $2.3 billion.

In a deal revealed earlier on Thursday, BitMine invested $200 million in Beast Industries, owned by the renowned YouTuber MrBeast, Tom Lee called this bet a "clearly wise choice." And said: "I think we can easily get a leapfrog return - 10 times - on this investment." Tom Lee added that BitMine also plans to launch a mobile app, although details are currently limited, and will make a "leap" investment in the tokenization field.