Bitmine Adds 71,179 ETH in a Week, Holdings Reach About 4.73M as Tom Lee Calls Crypto a "Wartime Store of Value"

Bitmine Immersion Technologies said it bought 71,179 ether over the past week, lifting its Ethereum treasury to roughly 4.73 million ETH—nearly 4% of the token's total supply—amid heightened geopolitical tensions. Chairman Tom Lee framed the purchase as a vote of confidence that Ethereum is nearing the end of a "mini crypto winter." He pointed to Ethereum's recent performance during market volatility, saying ETH outperformed stocks by 11.6% while gold fell more than 7.5%. "Crypto is demonstrating itself to be a good 'wartime' store of value," Lee said, citing demand during periods of geopolitical uncertainty. The company said it has been building its position over the past month, previously averaging about 45,000–50,000 ETH of purchases per week. Beyond accumulation, Bitmine launched MAVAN, an institutional staking platform used to manage its Ethereum holdings. It has staked about 3.14 million ETH, which it said implies roughly $177 million in annualized revenue at a 2.8% yield. The staked amount represents close to two-thirds of its total ETH position. Bitmine also reported total assets of $10.7 billion, including crypto assets, moonshot investments, and cash reserves. Ethereum, the company noted, has shown signs of trading more independently from Bitcoin, with Standard Chartered expecting ETH to outperform over time. At the time of writing, ether traded near $2,065, up 3.84% in the past 24 hours. Separately, the Ethereum Foundation has increased staking activity, investing $46.2 million into ETH to support development. Lee added that rising oil prices often pressure both crypto and equities, underscoring that macro forces still influence markets. Even so, he said extreme bearish sentiment can mark a bottom and argued that growing corporate treasury adoption could reinforce Ethereum's role as a strategic, "wartime" safe-haven asset. Disclaimer: This content is for informational and educational purposes only and does not constitute financial advice. Coin Edition is not responsible for losses arising from the use of referenced content, products, or services. Readers should exercise caution before taking any action related to the company.