Tom Lee-backed Bitmine nears 5% of ETH float after boosting holdings to 5.39M ETH

Bitmine Immersion Technologies said its Ethereum position has climbed to 5.39 million ETH, worth about $11.5 billion. The NYSE-listed company now holds 4.47% of Ethereum's circulating supply after adding 111,942 ETH during the latest market pullback. Chairman @Fundstrat said Bitmine is currently staking roughly 4.7 million ETH through its in-house MAVAN network, generating an estimated $276 million a year in protocol rewards.