BitMine, the undisputed heavyweight champion of Ethereum treasuries, is projecting over $400 million in annual pre-tax income from its $13 billion ETH stack, mostly by staking the goods, chairman Thomas Lee revealed at Thursday's shareholder meeting.
Lee also bragged to investors that BitMine “probably saved $400 million” on ether buys over the last few months, crediting the execution to investment advisory firm MOZAYXX and trading legend Tom DeMark.
But even with those sweet discounts, BitMine’s bag still shows roughly $2.3 billion in unrealized losses since the company started stacking ETH in July, a wild ride that’s seen crypto markets swing harder than a degen on leverage.
Tackling BitMine’s $200 million bet on the media outfit run by YouTube titan MrBeast, Lee called the play a "no-brainer." "I think we are easily going to make a moonshot return on that – 10x," he declared.
"He's the iconic content creator of our generation," Lee noted, highlighting the chance to link Ethereum with Gen Z, Gen Alpha, and millennial eyeballs. The collab could see BitMine sponsor MrBeast’s Beast Games and snag future upside from products the company builds.
Lee added that BitMine is also eyeing a mobile app—though specifics are scarce—and plans to drop "moonshot" investments into the tokenization sector.
