Tom Lee’s Bitmine is not slowing down. The company announced Bitmine Ethereum holdings have crossed 4.6 million ETH, with total crypto, cash, and “moonshot” assets now valued at $11 billion . The update comes as Ethereum gains momentum, trading near $2,148, up over 3% in 24 hours .
Bitmine Ethereum Holdings Cross 4.6M ETH
Bitmine added 65,341 ETH in the past week, surpassing its previous weekly average of 45,000 to 50,000 tokens . Chairman Tom Lee said the company has maintained this higher pace for three weeks, viewing the current market as the “late stages of the mini-crypto winter” .
Total holdings now stand at 4,660,903 ETH, valued at roughly $9.66 billion based on current prices . That represents about 3.86% of the total 120.7 million ETH supply —a share that keeps growing as accumulation accelerates.
The company also holds 196 Bitcoin, $1.1 billion in cash, a $200 million stake in Beast Industries, and $95 million in Eightco Holdings .
Staking Operations Generate $184M Annually
Bitmine has staked 3,142,643 ETH, about 67% of its total holdings . That’s more than any other entity globally, according to Lee. Annualized staking revenue currently stands at $184 million, based on a 2.83% seven-day yield. Once fully scaled, projected rewards could reach $272 million per year .
The company continues developing its Made in America Validator Network (MAVAN), working with three staking providers ahead of an early 2026 launch.
BMNR Stock and Ethereum Outlook
BMNR stock rose 3.10% to $21.27, with average trading volume around 44.9 million shares .
Lee noted that Ethereum has outperformed broader markets since the Iran conflict began. ETH rose about 18% , outpacing equities by roughly 2,450 basis points. Gold, by contrast, declined more than 15% during the same period.
My Thoughts
Bitmine Ethereum holdings now sit at 4.66 million ETH. That’s nearly 4% of all Ethereum that will ever exist. The company is accumulating at a pace that would have seemed impossible two years ago.
The staking revenue is the quiet part of the story. At $184 million annually, Bitmine isn’t just holding ETH. It’s earning on it. That changes the risk profile. Paper losses matter less when you have real yield coming in.
Lee’s point about ETH outperforming since the Iran conflict is worth noting. While oil spikes and markets panic, Ethereum is holding up. That’s a shift worth watching.
