Tom Lee's Bitmine Adds $70 Million in Ethereum, Holdings Reach 5.93 Million ETH
Bitmine Immersion Technologies bought 28,086 more ETH last week, raising holdings to 5.93 million tokens and putting it about 97% of the way toward its target of owning 5% of Ethereum’s supply. The purchase was valued at about $70 million using a $2,495 reference price, though the company did not disclose its actual cost. Bitmine has bought ETH every week since launching its treasury strategy on June 30, 2025, and now says its ETH holdings are worth about $14.8 billion. Its total assets were valued at $15.7 billion as of Sept. 7, including bitcoin, cash and securities, and stakes in Beast Industries and Eightco Holdings. About 5.1 million ETH, or 85% of holdings, is staked, with annualized staking revenue projected at $330 million. The company’s latest purchase was smaller than the prior week’s.
