- Bitmine buys 71K ETH in a week, now holding 4.73M ETH, nearly 4% of total supply.
- Tom Lee calls crypto a “wartime store of value” as ETH outperforms stocks by 11.6%.
- Bitmine stakes 3.14M ETH via MAVAN, generating $177M annually, the largest ETH treasury globally.
Bitmine Immersion Technologies purchased 71,179 ETH in one week, expanding its treasury amid rising geopolitical tensions. Chairman Tom Lee described crypto as a “wartime store of value,” highlighting Ethereum’s recent outperformance over traditional assets during market volatility.
Bitmine Buys 71K ETH to Expand Strategic Treasury
As per the release, Bitmine has been steadily buying Ethereum over the past month, previously averaging 45,000–50,000 ETH per week. The recent 71,179 ETH, bringing total reserves to approximately 4.73 million ETH.
The company has steadily accumulated Ethereum, previously averaging between 45,000 and 50,000 ETH purchases per week.
Tom Lee said the latest purchase reflects confidence that Ethereum is nearing the end of a “mini crypto winter.” He also noted that Ethereum outperformed stocks by 11.6% during recent market turbulence, while gold declined more than 7.5%.
“Crypto is demonstrating itself to be a good ‘wartime’ store of value,” Lee stated, pointing to investor demand during geopolitical uncertainty.
Bitmine Stakes 3.14M ETH Through MAVAN Platform
Beyond accumulation, Bitmine launched MAVAN, an institutional staking platform managing its Ethereum treasury. The company has already staked 3.14 million ETH, generating roughly $177 million in annualized revenue at a 2.8% yield.
The staked amount represents nearly two-thirds of Bitmine’s total holdings, positioning the firm among the largest Ethereum treasury holders. Combined with crypto assets, moonshot investments, and cash reserves, Bitmine reports total assets of $10.7 billion.
Ethereum Market Outlook
Ethereum is also beginning to move independently from Bitcoin, with Standard Chartered expecting ETH to outperform over time. At the time of writing, Ethereum traded near $2,065, up 3.84% over the past 24 hours.
The Ethereum Foundation is also stepping up staking, investing $46.2 million into ETH to support development. Lee noted that rising oil prices often hurt both crypto and stock markets, showing that broader economic factors still shape market behavior.
Despite current market pressure, Lee remains optimistic. He said extreme negative sentiment often signals a bottom, suggesting Ethereum’s growing treasury adoption could strengthen its role as a strategic and wartime safe-haven asset.
Related: Ethereum Price Prediction: ETH Struggles Below $2,150 as Bears Gain Control
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Source: https://coinedition.com/bitmine-buys-71k-eth-as-tom-lee-says-crypto-is-wartime-store-of-value/
