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

BitMine purchased another 9,500 ETH, adding to its Ethereum treasury as chairman Tom Lee reiterated support for Vitalik Buterin’s roadmap for the network. The company’s seven-day staking yield dropped to 2.65% from 3.03% over the past week, reducing Lee’s projected annual staking revenue to $309 million from $358 million. The buy extends BitMine’s strategy of accumulating ETH and staking it for yield, tying its balance-sheet returns directly to Ethereum’s validator economics. The decline in staking yield matters because it lowers the cash flow BitMine can generate per unit of ETH held, even as it expands its position. Watch next for further BitMine ETH purchases and whether staking yields stabilize or keep compressing as more ETH is staked network-wide.