BitMine Just Bought Another 9,500 ETH as Tom Lee Backs Buterin’s Ethereum Vision

BitMine's seven-day staking yield fell to 2.65% from 3.03% in a week, cutting Tom Lee's estimations to $309 million from $358 million. BitMine’s crypto, cash, and equity holdings fell to $14.3 billion, the lowest weekly total since mid-August, the company said Monday. Cash and marketable securities fell to $475 million, the seventh weekly drop in a row from $714 million on September 20. Besides Ether (ETH) and cash, the company held 216 Bitcoin (BTC), a $180 million stake in Beast Industries and a $75 million position in Eightco Holdings (ORBS). A week earlier, BitMine’s holdings totaled $14.5 billion, most of which was ETH, which the company marked at $2,234 per token using Coinbase prices, down from $2,261. Staking Yield Falls to 2.65% The company bought 9,587 ETH in the week to November 8, bringing its treasury to 6,070,092 tokens, a larger purchase than the 8,573 ETH BitMine added a week earlier. It now owns 4.97% of the 122.2 million ETH in supply, against its goal of 5%. Moving on, BitMine reported 5,227,037 ETH staked, or 86% of its treasury, a count that has not moved since BitMine’s staked ETH rose in the week to October 25. Before that rise, it sat at 5,067,309 in every w...