Quick Read Bitmine bought $88M in ETH at $3,200 and now holds 4.17M ETH (3.45% of circulating supply). Tom Lee’s supercycle thesis hinges on Ethereum transitioning from speculative asset to productive infrastructure—similar to how Bitcoin evolved from curiosity to institutional allocation. Lee projects Bitmine’s staking income could reach $374M annually once MAVAN launches in early 2026. ETH reaching $32,000 (10x) would require a $3.8T market cap larger than Apple’s current valuation. A recent stud ...

Tom Lee Ethereum QT. Photo by BeInCrypto Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead. Grab a coffee and settle in, because the latest crypto pullback may not be what it seems, at least according to BitMine chair Tom Lee. Beneath the headlines and market jitters, a far more unexpected force may be driving Ethereum’s slump, one that has little to do with the Fed, and everything to do with crypto’s own plumbing. Crypto ...

Core Insights - BitMine now holds over 2.5% of the total ETH token supply, aiming for a target of 5% [1][2] - The company's total crypto, cash, and "moonshot" holdings amount to $12.9 billion, including 3.03 million ETH tokens and $104 million in unencumbered cash [1][2] - BitMine is recognized as the largest ETH treasury globally and the second-largest crypto treasury overall, following Strategy Inc [2] Financial Performance - BitMine's average daily trading volume is $3.5 billion, making it the 22nd most traded stock in the US [1][4] - The company has recently acquired 202,037 ETH tokens, increasing its holdings to over 3 million ETH [2][4] - BitMine's trading volume share, along with MSTR, constitutes 88% of all global DAT trading volume [5] Institutional Support - BitMine is backed by prominent institutional investors, including ARK's Cathie Wood, Founders Fund, and Pantera [1][2] - The company continues to attract institutional capital due to its high liquidity and trading volume [5] Strategic Vision - The Chairman's Message emphasizes the potential of Ethereum in a Supercycle driven by AI and Wall Street's entry into blockchain [4] - The GENIUS Act and SEC's Project Crypto are viewed as transformative for financial services, akin to the end of the Bretton Woods system in 1971 [2]