Bitmine Approaches 5% ETH Target, Will Slow Purchases in Six Weeks, Tom Lee Says

BMNR0.43%
ETH0.75%
According to Tom Lee, chairman of Bitmine (BMNR), the largest corporate Ethereum treasury company, the firm is purchasing approximately 100,000 ETH weekly and expects to reach its target of holding 5% of Ethereum's total supply within six weeks, at which point it will slow buying and focus on staking yields and share buybacks. The company currently holds over 5.1 million ETH valued at approximately $11.9 billion, with 85% staked generating annual staking income exceeding $300 million. Bitmine also announced a $4 billion stock repurchase program.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments