Bitmine holds 4.87M ether, calls it 'wartime store of value'

Bitmine Immersion Technologies has amassed 4.87 million ether, valued at $10.7 billion, positioning itself to own 5% of the total supply. Chairman Tom Lee described ether as a "wartime store of value," highlighting its significant gains against gold and the S&P 500 since the Iran conflict began. The company is actively staking 68% of its holdings, generating $212 million in annualized revenue. Lee sees Ethereum benefiting from Wall Street's tokenization efforts and the increasing demand from AI systems for neutral blockchains, framing it as an investment in both institutional adoption and AI infrastructure.