Tom Lee’s Bitmine Buys Another $47M of ETH, Taking It to 4.9% of Ethereum Supply

Bitmine Immersion Applied sciences’ Ethereum holdings have reached has six million ETH, placing Tom Lee’s treasury firm inside touching distance of the 5% of provide it has been chasing since mid-2025.

The corporate purchased 17,362 ETH over the previous week, value slightly below $47 million on the $2,698 snapshot worth utilized in its press launch. It held 6,001,302 ETH as of Friday afternoon, worth about $16.2 billion, and equal to 4.9% of the 122.1 million tokens in circulation. Bitmine calls the goal the “Alchemy of 5%,” and says it’s 98% of the best way there in 15 months.

Complete holdings attain $17.2 billion as soon as every little thing else is counted, together with 213 BTC, $672 million in money and marketable securities, and two fairness stakes the corporate recordsdata below “moonshots,” being $180 million in Beast Industries and $115 million in Eightco, which Bitmine describes as one of many solely listed autos providing oblique publicity to OpenAI.

Bitmine’s staking enterprise

Bitmine has staked 5,067,309 ETH, or 84% of its holdings, value $13.7 billion, principally by means of MAVAN, the institutional staking platform it constructed for its personal treasury and has since opened to exterior traders.

At a 7-day annualized yield of two.62%, Lee places present projected staking income at $358 million a yr, rising to $424 million if every little thing is staked. “Bitmine has staked extra ETH than different entities on the planet,” he mentioned.

Bitmine has added Ethereum each week because the technique started on June 30, 2025, a monitor document Lee says is “unmatched by any public firm on the planet.”

ETH currently trades round $2,700, nicely under its highs, although Lee argues it’s the finest performing macro asset of the quarter, arguing that it has outperformed the S&P 500 by roughly 67 share factors because the finish of June.

Lee reads the market as turning. A crypto bull market started in late June, he mentioned, including that, “In our view, establishments are nonetheless underweight crypto and we anticipate them to be including to their publicity within the remaining months of 2026.”

Bitmine is now the most important Ethereum treasury and the second largest company crypto treasury of any sort, behind Bitcoin treasury agency Technique, which now holds 847,666 BTC value roughly $71 billion. Its backers embody ARK’s Cathie Wooden, Founders Fund, Pantera, Kraken, Galaxy Digital and Invoice Miller III.