Bitmine Stakes $248.7 Million Ether, Raising Total to $7.56 Billion
Bitmine, the publicly traded crypto investment firm backed by strategist Tom Lee, staked an additional 160,480 ether valued at approximately $248.7 million. The transaction brings the company’s total staked ether to 4.88 million, worth roughly $7.56 billion according to on-chain data. The move increases the proportion of Bitmine’s treasury holdings deployed in staking to 86%.
The staking addition follows a separate ether accumulation of 35,138 tokens, valued at $58.65 million, purchased on June 24 from BitGo and Kraken. Bitmine has positioned itself as one of the largest corporate holders of the digital asset, pursuing a treasury strategy that combines direct accumulation with network staking to generate yield.
From the sources (4 posts)
@lookonchainTom Lee(@fundstrat)'s #Bitmine bought another 35,138 $ETH($58.65M) from #BitGo and #Kraken over the past 4 hours.
@cointelegraph🔥 BULLISH: Tom Lee’s Bitmine bought another 35,138 $ETH worth $58.65M.
@lookonchainTom Lee(@fundstrat)'s #Bitmine just staked another 160,480 $ETH($248.7M). In total, #Bitmine has staked 4.88M $ETH($7.56B), 86% of its total holdings.
@onchaindatanerd$7.56B in $ETH. Staked That's where Tom Lee's (@fundstrat) #Bitmine now stands after adding another 160,480 $ETH ($248.7M) today. 86% of its total holdings Conviction?