Tom Lee: 'ETH's Price Doesn't Reflect The Strengthening Of Ethereum's Fundamentals'

Benzinga06-01

Firm Now Holds 4.49% Of Ethereum’s Circulating SupplyThe latest purchase lifts Bitmine’s total holdings to 5.42 million ETH, putting the firm about 90% of the way toward its stated goal of owning 5% ...

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By contrast, Strategy Inc. (NASDAQ:MSTR) sold $2.5 million worth of Bitcoin last week. Bitmine has acquired more than 1 million ETH since the start of the year and holds total crypto and cash assets of $11.6 billion as of May 31.Staking Revenue Approaching $300M AnnuallyBeyond accumulation, Bitmine is building an income stream through its MAVAN staking platform. The company estimates current staking operations generate roughly $258 million in annualized revenue, with projected rewards approaching $300 million annually. BMNR Chart Sitting 44% Below 200-Day As Death Cross LingersBMNR trades 10.3% below its 20-day SMA at $20.72 and 11.3% below its 50-day SMA at $20.94, keeping rallies looking more like bounces than trend reversals. More concerning is the longer-term setup, with shares sitting 44% below the 200-day SMA at $33.16 and under the 200-day EMA at $25.99.The death cross that printed in January, when the 50-day SMA crossed below the 200-day SMA, remains active. MACD sits below its signal line with a negative histogram, confirming sellers still have the edge. Resistance sits at $22 near the 100-day SMA at $22.38, while support holds at $17.50 where buyers previously stepped in. Reclaiming $22 is the minimum step needed before the stock can begin repairing its longer-term trend.Image: ShutterstockMarket News and Data brought to you by Benzinga APIs© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.To add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.43.1","shortVersion":"4.43.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2640096599","isCrawlerRequest":true}