Ethereum News: Tom Lee Says BitMine Has No Reason to Sell ETH After $300M Gain

Ethereum sits at just under $2,500, up a modest 1% on the day. Tom Lee, the chairman of the biggest Ethereum treasury company, is back in the news. He told Bankless this week that BitMine will not sell Ethereum out of financial necessity.

As of today, staking rewards on the company’s ETH stack run close to $300 million a year, against just $30–35 million in annual dividend obligations on its 9.5% Series A perpetual preferred stock. BitMine currently holds 5,846 million ETH, or 4.8% of the total supply, just 200,000 ETH shy of its 5% target.

Lee went further, suggesting that the target “may not be a cap” if enterprises begin treating ETH as a long-duration treasury asset. The comment itself landed against a backdrop of steady institutional accumulation and renewed ETF inflows that have kept ETH’s supply-demand picture tight.

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