Bitmine Sets New Record for Ether Holdings as Tom Lee Touts Crypto Outperformance

Bitmine Immersion Technologies has significantly increased its ether holdings to 5,901,112 tokens after acquiring an additional 53,501 ETH over the past week.

This brings Bitmine's total balance to approximately $14.8 billion at a price of $2,511 per ETH, making it the world's largest corporate holder of Ethereum with a 4.9% stake in the cryptocurrency.

Of its total holdings, 86% are staked through the MAVAN platform and staking partners, representing 5,067,309 ETH valued at $12.7 billion.

The company projects annualized staking revenues of $335 million based on a 7-day yield of 2.63%, according to Chairman Tom Lee.