Bitmine’s Tom Lee calls ether ‘the wartime store of value’ as holdings hit 4.87 million tokens
The company now holds 4.04% of all ether in existence and currently earns $212 million in annualized revenue from staking.
What to know:
- Bitmine Immersion Technologies now holds 4.87 million ether worth $10.7 billion, putting it 81 percent of the way to its goal of owning 5 percent of all ETH and making it the largest corporate ether treasury in the world.
- Chairman Tom Lee called ether “the wartime store of value,” noting that ETH has gained 17.4 percent since the Iran war began, sharply outperforming the S&P 500 and gold, and said he believes ETH is in the final stages of a “mini-crypto winter.”
- Bitmine has staked 3.33 million ETH, or 68 percent of its holdings, generating an annualized $212 million in staking revenue, while its total holdings, including cash and equity “moonshots,” stand at $11.8 billion following its recent uplisting to the New York Stock Exchange.
Lee pointed to ETH’s 17.4% gain since the Iran war began seven weeks ago, outperforming the S&P 500 by 1,830 basis points and gold by 2,743 basis points.
“We believe ETH beating gold by 2,743 basis points demonstrates ETH is the wartime store of value,” Lee said.
The company bought 71,524 ETH last week, maintaining its elevated purchase pace for the fourth consecutive week and matching the highest rate of accumulation since late December 2025. Lee said Bitmine’s “base case is ETH is in the final stages of the mini-crypto winter.”
Staking has become a significant revenue line. Bitmine has 3,334,637 ETH staked, representing 68% of its holdings and $7.4 billion in value, generating $212 million in annualized staking revenue at a 7-day yield of 2.89%.
