Bitmine, the Ethereum treasury managed by Tom Lee’s venture arm, has accumulated over 5 million ETH, representing approximately 5% of the cryptocurrency’s circulating supply.
The position has incurred $8.4 billion in unrealized losses as Ethereum’s price has declined from its 2021 highs. Despite the paper losses, the staked ETH is expected to generate roughly $287 million in annual rewards, according to projections cited by the company.
Bitmine’s strategy focuses on long-term accumulation of Ethereum through staking, which locks the tokens in exchange for network validation rewards. The firm’s holdings underscore its commitment to the asset amid market volatility.
The treasury’s size and performance highlight the scale of institutional interest in Ethereum, even as broader crypto markets remain under pressure from macroeconomic headwinds and regulatory uncertainty.
