PANews reported on January 16th that, according to CoinDesk, BitMine Chairman Thomas Lee stated at Thursday's shareholder meeting that the company expects to generate over $400 million in pre-tax income annually with its $13 billion worth of Ethereum assets, most of which will be realized through staking these holdings. Lee claimed that the company "may have saved $400 million" in Ethereum purchases over the past few months. However, since beginning its Ethereum acquisitions last July, the company still faces approximately $2.3 billion in unrealized losses.

In addition, Lee discussed the company's $200 million investment in Beast Industries, the company behind YouTuber MrBeast, calling it a "no-brainer" decision and anticipating a potential 10x return. He stated that MrBeast is an iconic content creator of this generation, and the partnership will help connect Ethereum with a younger audience.