BitMine targets $257M annual staking income

• BitMine projected up to US$257 million in annual Ethereum staking income.
• The company also disclosed operational gaps linked to rapid expansion.
• Management is pursuing share buybacks while expanding its Ethereum strategy.

BitMine Immersion Technologies projected up to US$257 million in annual staking income from its Ethereum (CRYPTO:ETH) holdings.

The estimate reflects a much larger Ethereum treasury, but the company also reported operational gaps tied to its rapid expansion.

Management said it is strengthening internal controls while continuing to build its Ethereum treasury strategy.

The company said it plans to improve treasury management systems, reporting processes and operational oversight as it expands.

BitMine also authorised a share buyback program, which allows the company to repurchase shares under certain conditions.

The company has rapidly increased its Ethereum holdings in recent months as part of its broader digital asset strategy.

BitMine said staking income could become an important source of revenue, but the projection depends on the size of its Ethereum holdings and future staking conditions.