BitMine expects that its Ethereum holdings will generate $400 million in revenue, and the investment in MrBeast may yield a 10x return

According to CoinDesk, Tom Lee, the chairman of BitMine, the world's largest Ethereum treasury company, stated at Thursday's shareholder meeting that BitMine expects its $13 billion Ethereum holdings to generate over $400 million in annual pre-tax income, most of which will come from staking these holdings. Tom Lee also mentioned that BitMine may have saved about $400 million in its Ethereum purchases over the past few months.

Despite the cost savings, BitMine's current holdings are still down about $2.3 billion since it began purchasing Ethereum in July of last year. Earlier on Thursday, BitMine disclosed a $200 million investment in Beast Industries, owned by the famous YouTuber MrBeast, with Tom Lee calling this bet an obviously wise choice.

He stated, "I think we can easily achieve a leap in returns on this investment—10 times." Tom Lee added that BitMine also plans to launch a mobile app, although details are currently limited, and will make leapfrog investments in the tokenization space.