Bitmine has continued its aggressive accumulation of Ethereum, purchasing roughly 52,203 ETH worth about $90 million over the past week despite challenging market conditions and ongoing global uncertainty.
Chairman Tom Lee remains firmly bullish on the long-term outlook for the crypto sector, even as Ethereum faces repeated resistance at key price levels and the firm remains significantly underwater on its holdings.
Nearing Its 5% Ethereum Supply Target
Following the latest purchase, Bitmine’s total Ethereum holdings have reached approximately 4.7% of the network’s circulating supply.
This puts the company about 94% of the way toward its stated goal of controlling 5% of total ETH supply, a milestone it is approaching less than a year after beginning its large-scale accumulation strategy.
A recent company update shows that Bitmine now holds roughly $10.7 billion in combined assets, including crypto holdings, cash reserves, marketable securities, and strategic investments in Eightco Holdings and Beast Industries.
Lee reiterated his long-term optimism, stating that the strongest phases of crypto growth are still ahead. He pointed to tokenization and rapid advances in artificial intelligence as key drivers that could significantly boost demand for blockchain infrastructure.
He also described the current market environment as part of an early “crypto spring,” suggesting that the sector is still in the early stages of a broader long-term expansion cycle.
Staking Strategy Boosts Revenue
Despite being heavily in the red on its Ethereum position, Bitmine has seen growing income from staking activities.
The firm currently has approximately 4.72 million ETH staked, valued at more than $8.2 billion at current prices. This staking position is generating an estimated annualized revenue of about $223 million.
Lee noted that Bitmine has become the largest institutional staker of Ethereum globally. He added that if all of its ETH holdings are fully staked through partners such as MAVAN, annual rewards could potentially rise to around $268 million, assuming a 2.73% yield rate.
Second-Largest Crypto Accumulator After Strategy
Beyond Ethereum, Bitmine now ranks as one of the largest corporate crypto accumulators globally, second only to Strategy, led by Michael Saylor.
Strategy also recently added to its Bitcoin position, acquiring an additional 520 BTC in its latest reported purchase, though at a much smaller scale compared to previous buys.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
