Tom Lee Sees Crypto Outpacing Risk Off Sectors While Bitmine Keeps Stacking Ether

Bitmine Chairman Tom Lee argues that a crypto bull market is already underway, and he backs it with a simple comparison. Ether has slipped about 14% from its recent high, while the US semiconductor sector has dropped 20% over the same period. In his view, that gap shows crypto is handling the risk-off mood better than many other corners of the market.

How Big Is the Bitmine ETH Treasury Now

The company bought another 10,452 ETH over the past week and now holds 6,051,933 ETH. Priced at $2,356 on Oct. 25, that stack is worth about $14.3 billion and makes up 4.95% of the 122.2 million ETH in circulation. Bitmine also owns 215 BTC, a $180 million stake in Beast Industries, a $76 million investment in Eightco Holdings and $514 million in cash and marketable securities, bringing its total holdings to roughly $15 billion.

Ethereum Staking Revenue and Share Buybacks at Bitmine

Most of the treasury is put to work. About 5,227,037 ETH, near 86%, is staked through the MAVAN platform and partners, and Bitmine expects $318 million in yearly staking revenue, or up to $368 million if everything were staked. The firm also bought back 2.04 million shares last week at an average of $22.48. This year’s repurchases total 22.9 million shares at an average of $17.48, costing $399.6 million.