BitMine anticipates that its Ethereum holdings will generate $400 million in revenue, and its investment in MrBeast could yield a 10x return.

Tom Lee, chairman of BitMine, the world's largest Ethereum treasury, said at its shareholder meeting on Thursday that BitMine expects its $13 billion Ethereum holdings to generate over $400 million in annual pre-tax income, most of which comes from staking these holdings. Lee also stated that BitMine "likely saved about $400 million" in its Ethereum purchases over the past few months. Despite these cost savings, BitMine's holdings are still showing a paper loss of approximately $2.3 billion since it began buying Ethereum last July. Earlier on Thursday, BitMine disclosed a $200 million investment in Beast Industries, owned by popular YouTuber MrBeast. Lee called this bet "an obviously wise choice," adding, "I think we can easily achieve a leap in return on this investment—10x." Lee added that BitMine also plans to launch a mobile app, although details are still limited, and will make "leapfrog" investments in the tokenization space. (CoinDesk)