Mr. Tom Lee, Chairman of BitMine, said that there was no so-called “financial crisis” in the Taifaf and that the funds needed for the follow-up upgrade of the network had been secured. The recent warming of the discussions was due to external concerns about the scaling down of expenditures by the Taifung Foundation and the increased mobility of people, which could affect the renewal of core agreements.
Approximately $30 million per year
Marketers Van Epps mentioned that about US$ 30 million per year would be required for the smooth operation of the NPN and the renewal of the core agreement, a part of which has long been carried out by the ETA Foundation. In his view, the resources available were not adequate in the face of the increasingly complex development tasks of the Ethera.
At the same time, Vitalik Buterin, the founder of the Taifeng, has recently promoted the sharing of responsibility for network maintenance among more agencies. He had previously indicated that the Taifung Foundation had not been established for the “permanent management of the network”. This shift in direction also increases the market ' s focus on who will sustain core development in the future.
Foundation restructuring raises concerns
Recent departures of senior managers and core agreement contributors from the Foundation have further amplified external concerns about governance continuity. Some voices also mentioned that such a transition, if not properly addressed, could even affect longer-term technical preparations, including upgrading arrangements for the back quantum age.
However, Tom Lee did not indicate which sources of “funds have been made available” and whether Bitmine would assume a greater role outside the Foundation. BitMine is currently one of the largest ETH-based companies in the world, and this has given more attention to its statement.
Bitmine holds 5.62 million ETH
According to reports, Bitmine disclosed last week that it held 5.62 million ETH, or 4.6 per cent of the current total supply of 120.7 million. Of these, approximately 4.7 million ETH have been used to pledge. The company also issues priority shares to raise additional funds to continue buying ETH.
Tom Lee's long-term judgment of the Taifeng is based on two main directions: the real world asset monetization and the chain demand brought about by AI Agent growth. In his view, even with the emergence of corporate-backed business chains such as Stripe, there would still be competition between the different firms around control, while the Taipei might retain its status as a neutral network.
ETF demand is still weak.
However, the financial situation has not improved significantly. The report mentions that the institutional needs of the United States spot ETF channel have been weak since late May, which has also kept ETH under pressure for the second quarter, at a price below US$ 2000.
Markets continue to focus on two variables: whether ETF funds are revolving, and whether core development and upgrading can remain stable as a result of the changing role of the Taifung Foundation.