Tom Lee's Bitmine boosts ether holdings to 4.47 million tokens with $98 million ETH purchase
TL;DR
Bitmine increased its ETH holdings to 4.474 million tokens after a $98 million purchase, bringing total holdings to $9.9 billion. The company earns $172 million annually from staking and is developing a U.S.-based staking platform for 2026 launch.
Key Takeaways
- •Bitmine purchased nearly 51,000 ETH last week, increasing total holdings to 4.474 million tokens valued at $9.9 billion.
- •The company stakes 3.04 million ETH worth $6 billion, generating $172 million in annualized staking revenue that could reach $253 million at full scale.
- •Bitmine's ETH holdings represent 3.71% of Ethereum's total supply.
- •The firm is developing the Made in America Validator Network (MAVAN) staking platform, targeting early 2026 launch with three staking providers.
- •Bitmine's strategy focuses on acquiring ETH and optimizing yield during market downturns, according to Chairman Tom Lee.
What to know:
- Bitmine Immersion Technologies increased its ether holdings to 4.474 million tokens after purchasing nearly 51,000 ETH last week, bringing its total crypto and cash holdings to $9.9 billion.
- The company has 3,040,483 ETH staked, valued at about $6 billion, generating an estimated $172 million in annualized staking revenue that could rise to $253 million at full scale based on recent yields.
- Bitmine's ether position represents 3.71% of Ethereum’s total supply, and the firm is developing its Made in America Validator Network staking platform, targeted for launch in early 2026 in partnership with three staking providers.
- Bitmine Immersion Technologies increased its ether holdings to 4.474 million tokens after purchasing nearly 51,000 ETH last week, bringing its total crypto and cash holdings to $9.9 billion.
- The company has 3,040,483 ETH staked, valued at about $6 billion, generating an estimated $172 million in annualized staking revenue that could rise to $253 million at full scale based on recent yields.
- Bitmine's ether position represents 3.71% of Ethereum’s total supply, and the firm is developing its Made in America Validator Network staking platform, targeted for launch in early 2026 in partnership with three staking providers.
Bitmine Immersion Technologies (BMNR) on Monday reported purchasing nearly 51,000 more ETH tokens last week, increasing its holdings to 4.474 million.
"In the midst of this 'mini crypto winter,' our focus continues to be on methodically executing our treasury strategy and steadily acquiring ETH and in turn, optimizing the yield on our ETH holdings," said Chairman Tom Lee.
The company said it now has 3,040,483 ETH staked, worth about $6 billion at current prices. Lee said annualized staking revenue stands at $172 million. At full scale, staking rewards could reach $253 million annually based on a 2.86% yield over the last seven days, Lee continued.
The company holds 4,473,587 ether (ETH), valued at $1,976 per token, along with 195 bitcoin and $868 million in cash, as well as a $200 million stake in Beast Industries and a $14 million investment in Eightco Holdings. Bitmine said its ether position represents 3.71% of Ethereum’s 120.7 million token supply.
Lee added that the firm is developing its Made in America Validator Network, or MAVAN, a staking platform slated for launch in early 2026. Bitmine said it is working with three staking providers as it builds the network.
- HYPE is up 23.9% year to date, wildly outperforming plunging bitcoin and ether as HyperLiquid’s monthly trading volume exceeds $200 billion while rival platforms see declines.
- The exchange’s model monetizes volatility through perpetual futures, weekend equity trading and synthetic exposure to commodities, FX and pre-IPO companies.
- One year after a governance controversy tied to the JELLY incident, HyperLiquid has revised its validator process and rebuilt vault TVL to $380 million, though regulatory and structural risks remain.
Disclosure & Polices: CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of Bullish (NYSE:BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services. Bullish owns and invests in digital asset businesses and digital assets and CoinDesk employees, including journalists, may receive Bullish equity-based compensation.