The publicly traded Ether treasury has more than 2 million ETH staked, with holdings valued at about $5.7 billion, and plans to expand further.
Bitmine Immersion Technologies’ growing Ethereum staking position may translate into roughly $160 million in annual staking revenue at current rates, as more of its Ether holdings are put to work onchain.
Bitmine, the largest publicly traded Ether treasury, said it added 40,302 Ether (ETH) over the past week, lifting total holdings to 4,243,338 million ETH. Bitmine’s staked ETH balance jumped by 171,264 ETH over the period, bringing total staked holdings to 2,009,267 ETH.
Based on the 2.81% Composite Ethereum Staking Rate (CESR) cited by the company, a benchmark designed to estimate the annualized yield of Ethereum validators, Bitmine’s staked Ether position would translate into $164 million in annualized revenue based on ETH price at time of writing.
Chairman Tom Lee said that if all of the company’s Ether were staked, the operation would generate about $374 million annually or or “greater than $1 million per day,” based on the same CESR benchmark.
