Tom Lee's Bitmine Buys Another $47M of ETH, Taking It to 4.9% of Ethereum Supply
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Tom Lee reports Bitmine purchases an additional $47 million worth of ETH, raising its holdings to 4.9% of total Ethereum supply. The firm now stakes 84% of its tokens, forecasting roughly $358 million in annual staking rewards. This aggressive accumulation boosts Bitmine’s market influence and signals continued institutional confidence, potentially driving ETH price upward.
Bitmine has staked 84% of its tokens, a position it projects will generate some $358 million a year in staking rewards.