In a statement released on Monday, Bitmine Immersion Technologies (BMNR) stated that it currently has 4.87 million ether worth $10.7 billion and is 81% of the way to its goal of holding 5% of the total ETH supply. Chairman Tom Lee also referred to ether as “the wartime store of value.”
Alongside Ether’s weekend drop to $2,199, BMNR shares are down 2.25% premarket. So far this year, the stock has declined by 32%.
“We believe ETH beating gold by 2,743 basis points demonstrates ETH is the wartime store of value,” Lee stated, pointing to ETH’s 17.4% rise from the start of the Iran conflict seven weeks ago, outpacing the S&P 500 by 1,830 basis points and gold by 2,743 basis points.
Last week, the company purchased 71,524 ETH, marking the highest rate of accumulation since late December 2025 and sustaining its strong acquisition pace for the fourth week in a row. According to Lee, Bitmine’s “base case is that ETH is in the final stages of the mini-crypto winter.”
Staking has grown to be a substantial source of income. With 33,34,637 ETH staked, or 68% of its holdings and $7.4 billion in value, Bitmine generates $212 million in annualised staking revenue at a 2.89% yield over a seven-day period.
Cash and what the company refers to as “moonshots” make up the total holdings of $11.8 billion.
Source: X.com
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