BitMine: Total Staked ETH Exceeds 4.917M, Tom Lee Says Strategy Unchanged Despite Slower Buying

BitMine Immersion (BMNR) clarified the slowdown — the ETH buying strategy itself is unchanged.

The Numbers:

Last Week: +7,430 ETH added (∼$14M)
Total Holdings: 5.78M ETH (∼$10.8B), 4.8% of all ETH
Total Staked: 4.917 million ETH, about 85% of holdings now staked via Made in America Validator Network (MAVAN)
Staking Yield: Projected $247M annualized revenue a1ec
Buyback: 5.5M common shares repurchased at $15.6156, $86M spent under $4B program be40

Tom Lee Responds:

Chairman Tom Lee said: "The reduced pace of buys reflects that BitMine repurchased 5.5 million common shares. BitMine has bought ETH every week since the inception of the ETH Treasury Strategy on June 30, 2025." be40

He emphasized the apparent slowdown does not mean a change in pace — capital was simply reallocated to accretive share buybacks. Lee views buybacks as accretive to shareholder value while the long-term target of owning 5% of ETH supply — "Alchemy of 5%" — remains.

With 4.917M ETH now working on-chain, BitMine is the largest staked ETH holder globally and is just 0.2% away from its 5% goal.

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