Tom Lee’s BitMine Immersion Technologies staked an additional 150,120 Ethereum tokens worth approximately $278 million on August 4. This transaction brings BitMine’s total staked ETH to 5,067,309 tokens, approximately $9.38 billion, representing 87.4% of its entire ether holdings. The operation was conducted through the Made in America Validator Network, an institutional platform built by BitMine to generate yield on its Ethereum treasury. Chairman Tom Lee, who also co-founded Fundstrat, framed this buildup as a bet on a multi-year Ethereum supercycle. Ethereum ETFs posted their best month since October 2024 as Bitcoin funds continued bleeding assets, reflecting growing institutional interest in ether.
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