![\"Bitmine\u2019s](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMTIvMDE5YjRmNTUtZWUxZC03ZTdkLTkwNTUtZjZmMTAyOGU1NzdhLmpwZw==.jpg\")
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The publicly traded Ether treasury has more than 2 million ETH staked, with total holdings of more than 4.2 million, or 3.5% of the outstanding supply.<\/p>\n
Bitmine Immersion Technologies\u2019 growing Ethereum staking position may translate into more than $160 million in annual staking revenue at current rates, as more of its Ether holdings are put to work onchain.<\/p>\n
Bitmine, the largest publicly traded Ether treasury, said<\/a> it added 40,302 Ether (ETH<\/a>) over the past week, lifting total holdings to 4,243,338 million ETH. Bitmine’s staked ETH balance jumped by 171,264 ETH over the period, bringing total staked holdings to 2,009,267 ETH. <\/p>\n Based on the 2.81% Composite Ethereum Staking Rate (CESR) cited by the company, a benchmark designed to estimate the annualized yield of Ethereum validators, Bitmine\u2019s staked Ether position would translate into $164 million in annualized revenue based on ETH price at time of writing.<\/p>\n Chairman Tom Lee said that if all of the company\u2019s Ether were staked, the operation would generate about $374 million annually or or \u201cgreater than $1 million per day,”\u00a0 based on the same CESR benchmark.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n