BitMine, the world’s largest Ethereum treasury company, expects to generate more than $400 million in pre-tax revenue annually from $13 billion worth of Ethereum assets. EthereumChairman Thomas Lee said at the company’s general meeting on Thursday that this was achieved primarily by investing these holdings.
Lee also told investors that BitMine has “save probably $400 million” on Ether purchases over the past few months. He credited investment advisory firm MOZAYXX and trading industry luminary Tom DeMark with handling the execution strategy.
Despite the cost reductions, BitMine’s current position still reflects approximately $2.3 billion in unrealized losses since the company began its acquisitions. Ethereum In July, the situation involved significant fluctuations in the virtual currency market.
Regarding BitMine’s $200 million investment in the media company led by YouTube creator MrBeast, which was revealed earlier Thursday, Lee called the bet “a no-brainer.”
“I think you can easily achieve a 10x moonshot return with this,” he said.
“He is an iconic content creator of our generation,” Lee said, pointing to the potential value of connecting Ethereum to a younger audience of Gen Z, Gen Alpha, and Millennials.
The partnership could include BitMine sponsoring MrBeast’s flagship show, Beast Games, as well as securing future profits from products developed by the company.
BitMine also plans to launch a mobile app, but details are still limited, Lee added, adding that BitMine will make “moonshot” investments in the tokenization space.
