Tom Lee’s Bitmine Buys Another $19 Million in Ethereum as Stash Nears 5% of Total Supply
Bitmine Immersion Technologies bought 9,926 more Ethereum, adding about $19 million and bringing total ETH holdings to 5.82 million tokens, valued at roughly $11 billion. Its total crypto, cash, and other holdings now stand at about $11.4 billion. The company’s ETH stash equals 4.8% of Ethereum’s circulating supply, putting it close to its “Alchemy of 5%” target to own 5% of ETH supply. Chairman Tom Lee said Bitmine is 96% of the way to that goal and framed Ethereum’s strength as tied to tokenization, agentic AI, and easier financial conditions. Beyond ETH, Bitmine holds 210 Bitcoin, about $78 million in cash and securities, and stakes in Beast Industries and Eightco Holdings, plus over 5 million ETH staked through its validator network. The firm has been buying ETH weekly since launching its treasury strategy last summer.
