Tom Lee's BitMine ether holdings rise to 5.77 million tokens, or 4.8% of total supply
BitMine has increased its Ethereum holdings to 5.77 million tokens, citing the success of the Robinhood Chain layer-2 network as a primary driver. The company maintains a diverse treasury of crypto assets and cash despite recent market volatility.
Why it matters
Corporate accumulation of Ethereum and the growth of layer-2 scaling solutions demonstrate the increasing institutional focus on the utility of the Ethereum ecosystem.
The company said nearly five million of its ETH holdings are staked, allowing it to earn staking rewards while maintaining one of the largest corporate Ethereum treasuries.
Beyond ether, BitMine's balance sheet includes 206 bitcoin BTC $ 63,015.88 , a $180 million stake in Beast Industries, a $69 million stake in Eightco Holdings (ORBS) and about $482 million in cash and marketable securities.
Chairman Tom Lee pointed to growing activity on Ethereum's layer-2 networks as a key reason for the company's continued focus on ETH.
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