Tom Lee's Bitmine boosts ether holdings to 4.47 million tokens with $98 million ETH purchase

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.