Fundstrat co-founder Tom Lee, newly appointed chairman of Bitmine Immersion Technologies Inc BMNR, is positioning the company as a leading Ethereum ETH/USD treasury play as Wall Street accelerates its shift toward blockchain-based finance.
What Happened: In an interview with Global Money Talk, Lee highlighted that Ethereum is entering a “super cycle” that could define the next decade, with financial institutions increasingly choosing Ethereum as the backbone for digitizing assets.
Since his appointment, Bitmine has become the world's second-largest crypto treasury, holding roughly $9 billion worth of Ethereum.
The company's stock has surged tenfold in the same period, far outpacing Ethereum's own performance.
Lee compares Bitmine's strategy to Strategy's Bitcoin play, arguing that corporate treasuries offer structural advantages over direct crypto ownership.
Bitmine has dramatically increased Ethereum holdings per share while its proof-of-stake model generates sizable income.
With $9 billion staked, Lee estimates annual pre-tax net income of about $300 million — enough to place Bitmine among the most profitable U.S. companies.
Also Read: Ethereum Foundation Releases Privacy-Focused Roadmap For Network, Lists Out Priority Goals
Why It Matters: Institutional investors have quickly backed Bitmine, including Founders Fund, Stan Druckenmiller, Galaxy Digital, Cathie Wood's ARK Funds, and Bill Miller.
With a $10 billion market cap, Bitmine's scale and credibility set it apart in the crowded crypto treasury space.
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