Tom Lee’s Bitmine Adds $20M in Ethereum, Seizing on Vitalik’s 'ETH Is Money' Declaration
Summary
Bitmine Immersion Technologies bought another 9,587 ETH, bringing its reported holdings to 6.07 million ETH, or 4.97% of supply, just short of its 5% target. The company says it has purchased ETH weekly since launching its treasury strategy in June 2025. Chairman Tom Lee cited Vitalik Buterin’s recent description of ETH as a store of value as support for Bitmine’s strategy. Bitmine also reported $14.3 billion in total assets and said it has staked about 5.23 million ETH, with projected annualized staking revenue of $359 million.
