BitMine Reaches Milestone, Tom Lee Predicts Stronger Move Up for Ethereum
BitMine's Ethereum treasury has surpassed the 5 million mark, crossing 5,983,940 ETH in its holdings. This represents approximately 4.9% of Ethereum's total available supply of 122.1 million ETH.
The company's accumulation activity continues with the purchase of 27,562 additional ETH at around $2,688 per coin, totaling roughly $74 million in value. Separately, BitMine transferred 12,500 ETH from Kraken, worth approximately $34.6 million at the stated price.
Tom Lee, a key figure in BitMine, believes that Ethereum's strong third quarter performance could precede another move higher in the fourth quarter of 2026. According to him, the 'massive outperformance of ETH' is seen as a prelude to a potentially stronger up move in Q4.
BitMine's staking operations have been yielding an impressive 2.62% annualized yield, generating around $357 million in projected revenues based on its current staking position. If all of its ETH were fully staked through its MAVAN platform and staking partners, the annualized staking rewards could reach approximately $421 million.