Overview
- The company bought 41,788 ETH last week, lifting its holdings to roughly 4.24–4.3 million tokens, more than 3.5% of circulating supply.
- The stash has fallen in value from nearly $14 billion in October to about $9.6 billion, leaving unrealized losses of roughly $6–$6.6 billion.
- BitMine has staked nearly 2.9 million ETH, and its Made in America Validator Network is described as on track to launch this quarter.
- Chairman Tom Lee says the firm is an ether treasury vehicle designed to track and ultimately outperform ETH over a full market cycle, not a short-term trader.
- Analysts note that estimated annual staking revenue near $164 million offers limited offset during sharp declines, and BMNR shares have faced pressure this week.