Bitmine nears 5% of Ethereum supply despite $8.4B in unrealized losses

Source Summary

Bitmine, Tom Lee's Ethereum treasury company, continues purchasing Ethereum during the market downturn and is approaching 5% of the total Ethereum supply. The company holds over 5 million staked ETH, which is projected to generate $287 million in annual rewards, while carrying $8.4 billion in unrealized losses.