Bitmine Projects $334M Annual Staking Revenue From $15.8B ETH Treasury

Bitmine Immersion Technologies has staked more than 5.06 million of its roughly 5.95 million Ether holdings, projecting $334 million in annualized staking revenue at current rates. The company's total crypto and cash holdings now stand at approximately $15.8 billion, with ETH alone valued at around $15.4 billion—representing about 4.9% of Ether's circulating supply. With 85% of its ETH actively staked, Bitmine is converting its corporate treasury into a significant recurring income stream, a model that contrasts sharply with Bitcoin-focused treasury companies whose BTC holdings generate no native yield.

In a Monday announcement, Bitmine reported acquiring 27,180 ETH during the previous week. The staking ratio closely mirrors that of Grayscale Ethereum Staking ETF (ETHE), the first spot Ether exchange-traded product in the US, which has 84.6% of its holdings staked according to its webpage. Shares of Bitmine traded near $25 in Monday morning action, up nearly 38% over the past month but still negative year to date, according to Yahoo Finance data.

While Bitmine continued accumulating ETH, Michael Saylor's Strategy went a second consecutive week without purchasing Bitcoin. The company's BTC holdings held steady at 845,050 BTC as of September 13, with its last purchase—a 4,603 BTC buy worth roughly $369.7 million—dating to late August. Instead, Strategy directed capital toward its STRC preferred stock, repurchasing approximately 1.42 million shares for $139.3 million between September 8 and September 13, following a $176.3 million STRC buyback the prior week. The shift highlights how Strategy is now balancing Bitcoin accumulation with shareholder returns through preferred stock operations.