Tom Lee's Bitmine buys $81 million of ETH in largest weekly haul since early July
Bitmine, led by Tom Lee, purchased $81 million in Ethereum, bringing its total holdings to 4.8% of the circulating supply. The company continues to aggressively accumulate ETH, citing historical price patterns and potential institutional adoption as drivers for future growth.
Why it matters
Bitmine's massive accumulation strategy significantly impacts Ethereum's market liquidity and reflects growing institutional confidence in crypto-treasury strategies.
The purchase is worth roughly $81 million at Monday's ETH price of $2,500 and lifted Bitmine's holdings to 5,847,611 tokens. The entire stash is valued at about $14.6 billion at current prices.
BMNR is higher by 3.5% in pre-market trading as ETH climbs past $2,500.
The Tom Lee-chaired company had eased off its buying in recent months as it moved closer to its self-imposed goal of owning 5% of Ethereum's supply. Still, Bitmine hasn't stopped buying. The company has added ETH every week since launching its Ethereum treasury strategy in June 2025, according to Lee.
Its holdings now account for roughly 4.8% of Ethereum's 120.7 million token supply. At the current supply level, reaching the 5% target would require about 6.04 million ETH, leaving Bitmine roughly 187,000 tokens short of its target.
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