Key facts
- Bitmine acquired 27,180 ETH last week, bringing its total holdings to over 5.95 million ETH.
- Bitmine's total crypto holdings are valued at approximately $15.8 billion.
- More than 5.06 million ETH is staked, generating an estimated $334 million in annualized staking revenue.
- Approximately 85% of Bitmine's Ether holdings are staked.
- Michael Saylor's Strategy repurchased 1.42 million shares of its STRC preferred stock for $139.3 million.
- Strategy's Bitcoin holdings remained unchanged at 845,050 BTC as of Sept. 13.
Bitmine Immersion Technologies has bolstered its Ether holdings and is projecting significant annual staking revenue, demonstrating a strategy to generate income from its substantial cryptocurrency treasury. The company acquired 27,180 ETH last week, increasing its total Ether holdings to over 5.95 million ETH, valued at approximately $15.4 billion. With total crypto assets and cash reaching about $15.8 billion, Bitmine reported that more than 5.06 million ETH is currently staked, which is estimated to generate $334 million in annualized staking revenue at current rates. This means roughly 85% of its Ether holdings are actively generating yield, a strategy that offers a recurring income stream distinct from Bitcoin treasury holdings which do not offer native staking rewards. In contrast, Michael Saylor's Strategy has paused Bitcoin purchases for two consecutive weeks, instead directing capital towards repurchasing its preferred stock. Strategy bought back 1.42 million shares of its STRC preferred stock for $139.3 million between September 8 and September 13, following a similar buyback the previous week. Its Bitcoin holdings remained static at 845,050 BTC as of September 13.