Bitmine Forecasts $334 Million in Annual Staking Income
Bitmine projects $334 million in annual staking revenue from its $15.8 billion crypto treasury, with over 5 million ETH currently staked.
Bitmine projects $334 million in annual staking revenue. This figure is derived from a treasury of approximately $15.8 billion. The company holds more than 5.95 million ETH. This amount represents 4.9% of the total circulating Ether supply. The firm acquired 27,180 ETH last week. Total holdings now include cash and other digital assets.
More than 5.06 million ETH is currently staked. This accounts for roughly 85% of the firm's total Ether position. Cointelegraph notes that this strategy converts static assets into recurring income. The yield is generated at current network rates. This approach distinguishes Bitmine from Bitcoin treasury firms. Bitcoin does not offer native staking rewards.
Comparison with Grayscale Staking
Grayscale Ethereum Staking ETF holds 84.6% of its Ether in staking. Bitmine’s 85% staking ratio aligns closely with this benchmark. The ETF is the first spot Ether exchange-traded product. Both entities utilize staking to generate yield. This method provides a financial return on idle assets.
Bitmine Stock Price Performance
Bitmine shares traded just below $25 on Monday. The stock was little changed in morning sessions. It has gained nearly 38% over the past month. The share price remains down year to date. These figures are based on Yahoo Finance data. The market reaction has been muted despite the revenue projection.
Strategy Halts Bitcoin Purchases
Michael Saylor’s Strategy skipped Bitcoin purchases last week. This marks the second consecutive week without new acquisitions. The company directed capital toward preferred stock instead. Strategy repurchased 1.42 million shares of STRC. The cost was $139.3 million between Sept. 8 and Sept. 13. The firm bought back $176.3 million the previous week.
Strategy’s Bitcoin holdings remained unchanged at 845,050 BTC. The last purchase occurred in late August. The company acquired 4,603 BTC for $369.7 million then. This pause reflects a balance between accumulation and stock support. The firm prioritizes its preferred equity in the short term.
