Markets Tom Lee's Bitmine has increased its ownership of Ethereum, now holding 4.8% of the total supply after its latest acquisition of ETH.
Bitmine's Recent Purchase of 9,926 ETH Continues Long-Standing Buying Trend
By Helene Braun | Edited by Stephen Alpher 1 min ago 1 min read Make preferred on Share Share this article Copy link X (Twitter) LinkedIn Facebook EmailMake preferred on
- Bitmine acquired an additional 9,926 ETH last week, increasing its total holdings to 5.815 million ETH, valued at approximately $11 billion.
- The company, led by Tom Lee, now controls about 4.8% of Ethereum's total supply, approaching its target of 5%.
- Lee anticipates that trends in tokenization, AI applications, and favorable financial conditions will drive demand for Ethereum and the overall cryptocurrency market.
Bitmine Immersion, a treasury focused on Ethereum, has bolstered its holdings by purchasing an additional 9,926 ETH last week, bringing its total to 5.815 million tokens.
The announcement made on Monday by Chairman Tom Lee highlighted that this purchase is part of a consistent buying trend that started when the company launched in June 2025.
With this recent acquisition, Bitmine, which trades under the ticker BMNR, now possesses 4.8% of Ethereum's overall supply, with its holdings valued at around $11 billion based on the current price of $1,904.
Lee noted that the ETH/BTC ratio has surpassed a long-standing downward trend, indicating a growing investor sentiment towards Ethereum due to increasing demand from tokenization and AI applications.
On a broader economic scale, he believes that “easing financial conditions will provide a boost for crypto,” he stated.
Over the past 24 hours, Ethereum has seen an increase of approximately 1.6%, while BMNR has risen more than 2% today.
In addition, the company has repurchased 1.7 million shares of its own stock last week, bringing its total share ownership to 20.8 million under a previously authorized buyback program worth $4 billion.
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