BitMine Seeks Balance Between Growth and Control in Its Ethereum Holdings

BitMine, led by chairman Tom Lee, is nearing its goal of controlling 5% of all Ethereum in circulation. With over $350 million in ETH purchases still needed to reach this target, BitMine has been buying and staking Ethereum for more than 60 consecutive weeks.

Lee emphasizes that the company's core treasury isn't going anywhere, and selling the ETH bought for it is not on the table. However, he does suggest that once the 5% target is reached, some of the staking rewards could be sold to manage growth.

BitMine has already native-staked over 5 million ETH, leaving around 800,000 unstaked. Lee wants this ETH to 'work' and generate income without reducing the position the company has built over time.