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🪙Bitmine has acquired an additional 71,179 ETH (~$148 million) last week, increasing its total holdings to over 4.7 million ETH (~$9.8 billion), representing 3.92% of the total supply in just 8 months.
CEO Tom Lee proudly stated that ETH has outperformed gold by approximately 18% since the start of the US-Iran conflict. However, he also warned that cryptocurrencies can only survive the winter when oil prices stop rising.
Additionally, Bitmine launched its own ETH staking platform, MAVAN. Currently, the company is staking 66% of its ETH holdings, generating $177 million annually. If it stakes all of its holdings, this figure could reach $266 million per year.