BitMine expects to generate more than $400 million in annual pre-tax income from its roughly $13 billion of Ethereum holdings, primarily by staking those assets, chairman Thomas Lee said at the company's shareholder meeting. Lee also told investors that BitMine “probably saved $400 million” on recent ether purchases and that the firm's current ETH position still reflects around $2.3 billion in unrealized losses since it began buying. He confirmed a $200 million investment in the media company led by YouTube creator MrBeast and said the firm plans a mobile app and large investments in tokenization.
BitMine's Expected Income from ETH Holdings
According to Lee, the company expects the bulk of the projected pre-tax income to come from staking its ETH holdings. Staking is cited as the primary income source for the $400 million-plus estimate rather than trading or other activities. In his remarks at the shareholder meeting, Lee framed the projection as tied to the firm's large treasury position and its staking strategy, which builds on BitMine's broader treasury approach documented elsewhere; see treasury strategy for more context.
Cost Savings on Ether Purchases
Lee told investors BitMine “probably saved $400 million” on its ether purchases over the past several months. He credited the execution to the investment advisory firm MOZAYXX and trader Tom DeMark, saying their approach helped reduce acquisition costs while building the ETH balance. For details on recent purchases and deal terms, readers can refer to coverage of a specific purchase in the company's recent activity: purchase details.
Unrealized Losses on ETH Investments
Despite reported savings on purchases, BitMine’s ETH position shows roughly $2.3 billion in unrealized losses since the firm began accumulating ETH in July. Lee noted those marks reflect a period of significant market swings that have affected the carrying value of the holdings. The company’s accounting for unrealized losses sits alongside its longer-term staking and treasury plans discussed at the meeting.
Investment in MrBeast's Media Company
BitMine disclosed a $200 million investment in the media company led by YouTube creator MrBeast, a move Lee described as a "no-brainer." He also expressed a view that the investment could produce a sizable return, saying he expects a 10x outcome and highlighting opportunities to connect Ethereum with younger audiences. Lee mentioned the partnership could include sponsoring MrBeast’s show Beast Games and capturing upside from future products developed by the company.
Future Plans: Mobile App and Tokenization
Lee said BitMine plans to launch a mobile app, though he provided few details about timing or features. He added the firm intends to make what he called "moonshot" investments in the tokenization sector, positioning those moves as exploratory bets alongside the treasury and media strategies. Full specifics for the app and tokenization investments were not detailed in the shareholder remarks.
Why this matters
For an individual miner in Russia running between one and a thousand devices, BitMine's projections do not directly change day-to-day mining operations such as electricity use or hardware maintenance. The announcement does signal that a large treasury firm is focused on staking and broader crypto-related investments, which may influence industry attention and service offerings over time. In short, the news is mainly relevant as an indicator of where big players are allocating capital rather than an immediate operational shift for small-scale miners.
At the same time, BitMine's combined disclosure—expected staking income, purchase savings, unrealized losses, and a media investment—shows that large holders balance treasury yields with strategic bets beyond pure mining. That context can matter if you consider staking opportunities, custody arrangements, or partnerships with platforms that aggregate staking or media integrations. Keep in mind the company's plans (app, tokenization) could eventually produce consumer-facing services that miners might interact with, but details are still limited.
What to do?
- Monitor staking and custody options: If you are evaluating staking as an alternative to spot holding, compare providers' fees, lock-up terms and security rather than acting on headlines alone.
- Keep operational discipline: Continue tracking electricity costs, hash-rate efficiency and hardware uptime—these remain the core determinants of mining profitability.
- Record transactions and holdings: Keep clear records of purchases, sales and any staking rewards for accounting and tax reporting purposes in Russia.
- Watch for product launches: If BitMine releases a mobile app or tokenization products, review their terms and security before moving funds or assets into them.
- Stay informed but cautious with partner investments: Large firms make media and strategic bets; consider such moves as informational rather than signals to change your mining setup immediately.
