Tom Lee: Crypto Market in ‘Early Bull Phase,’ Bitmine Staking APY at Around 226M

June 15. Per the latest Chairman’s letter released by crypto asset firm Bitmine, over the past week, Bitmine added 76,881 Ethereum (ETH) to its holdings, maintaining its rapid, high-frequency accumulation pace. The company notes that ETH’s current price correction doesn’t align with Ethereum’s improving fundamentals, and it’s calling the crypto market’s state the “early stages of a bull market.” As of June 14, Bitmine’s total staked Ethereum holdings hit 4,718,677 ETH—valued at roughly $81 billion at current market rates—making it one of the world’s largest Ethereum holders and staking operators. Bitmine also announced the official launch of its in-house institutional-grade staking platform, MAVAN, which will roll out access to institutional investors, crypto custodians, and ecosystem partners over time to expand its staking infrastructure service offerings. A portion of its ETH is already being staked via MAVAN. Disclosed data shows the firm’s current staking scale generates an estimated annualized return of $2.26 billion to $2.69 billion, with a 7-day average yield of roughly 2.79%. Those earnings are projected to grow as its staking footprint expands. Bitmine’s leadership also targets capturing 5% of the total Ethereum supply by 2026—alongside continued expansion of its strategic ETH reserves. Separately, the firm declared a third-quarter cash dividend of $0.2639 per share for its Class A preferred stock, set to be paid out on July 6, 2026.