Bitmine Immersion Technologies, led by chairman Tom Lee and listed on the NYSE under ticker BMNR, staked an additional 150,120 ETH worth approximately $278 million. The company now holds a total of 5.8 million ETH, representing 4.8% of Ethereum’s circulating supply. Founded in June 2025, the firm accumulated nearly 5% of circulating Ethereum in just 10 to 11 months. This massive accumulation generates projected annual yields between $247 million and $290 million. This concentration raises concerns regarding network centralization and regulatory risks for its staking-as-a-business model.
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