BitMine Co-Founder Tom Lee Says Staking Coming Soon, Claims Ethereum Founders Shooting For Wall Street

Core Insights - BitMine Co-Founder and CEO Tom Lee announced that the company will soon launch an Ethereum staking solution, which is expected to generate a pre-tax yield of 2.79% [1][3] - BitMine currently holds 2.83 million ETH, representing 2.5% of all Ethereum, making it the largest corporate holder of Ethereum and the second-largest overall crypto treasury [3][4] - Ethereum's founders are preparing upgrades to facilitate institutional integration, allowing major financial institutions to build directly on the blockchain [5][6] Company Overview - BitMine is approximately the 470th-largest U.S. company by market capitalization, with its stock experiencing a significant surge from around $5 to a peak of $161, before stabilizing in the mid-$50s [2] - The company possesses a combined crypto and cash reserve of about $13.4 billion, including 192 BTC and $456 million in cash [4] Industry Developments - The upcoming Ethereum upgrades are aimed at making the network more accessible for Wall Street firms, reflecting a shift in Ethereum's community focus [5][7] - Lee emphasized that the Ethereum community is uniting to reinforce its leadership in the blockchain space, dismissing concerns about centralization as BitMine aims to own 5% of all ETH [7][8]