Tom Lee's Bitmine Surpasses $10B Worth of Staked ETH

Bitmine – the largest ETH-centric digital asset treasury company helmed by notorious investment media talking head Tom Lee – now stakes more than $10B of ETH as continues its push to accumulate 5% of the token's circulating supply.

What's the Scoop?

• Fresh Buy: In its latest treasury update, Bitmine disclosed its purchase of 101,745 ETH, bringing total holdings 5.18M ETH, representing ~4.3% of total supply acquired after 10 months of aggressive accumulation. Bitmine is targeting ownership over 5% of the circulating ETH supply, and is now 86% of the way to achieving its goal.
• Leading Staker: Bitmine now stakes 4,362,757 ETH (worth $10.2B), a position which is expected to produce $297M in annualized staking revenues, based on the present value of Bitmine's 2.91% ETH-denominated yield. This immense staking position makes Bitmine the largest centralized Ethereum and number two overall (behind Lido), with the DATco controlling roughly 11% of total staking power.
• OTC Acquisitions: The Ethereum Foundation has offloaded two 10k ETH tranches to Bitmine in back-to-back weeks, netting roughly $47M in proceeds from the OTC sales, which the EF says will go toward supporting protocol R&D, ecosystem growth, and community grants.