The firm now holds 4,874,858 ETH worth more than $10.7 billion as Ethereum changes hands around $2,208 on Monday. The firm holds the largest stockpile of the cryptocurrency.
"BitMine has maintained the increased pace of ETH buys in each of the past four weeks, as our base case ETH is in the final stages of the 'mini-crypto winter,” BitMine chairman Tom Lee said in a statement.
When the firm has fully staked all of its Ethereum—or the act of supplying and locking up ETH to help secure the network—it anticipates earning more than $300 million annually in ETH rewards, according to Lee.
Tom Lee's BitMine Uplisted to NYSE as Ethereum Firm Expands Buyback Program to $4 Billion
BitMine shares are down around 63% in the last six months as Ethereum has fallen more than 55% from its August all-time high of $4,946.
