Tom Lee's Bitmine now owns 4.8% of Ethereum supply after latest ETH purchase
Bitmine, led by Tom Lee, has increased its Ethereum holdings to 4.8% of the total supply following a series of weekly purchases. The company remains optimistic about Ethereum's growth, citing potential demand from AI and tokenization applications.
Why it matters
Large-scale institutional accumulation of Ethereum signals significant market confidence and potential long-term price volatility.
In an announcement Monday, the company led by Chairman Tom Lee said it bought another 9,926 ETH last week, continuing its streak of weekly buys that began in June 2025 when the company launched.
Bitmine, which trades under the ticker BMNR, now holds 4.8% of ETH’s total supply with its tokens worth about $11 billion at the current price of $1,904.
Lee said the ETH/BTC ratio has broken above a years-long downward trend, which he sees as a sign that investors are starting to price in growing demand for Ethereum from tokenization and AI-agent applications.
On the macro front, he expects “easing financial conditions to be a tailwind for crypto,” he said in a statement.
ETH is up about 1.6% over the past 24 hours while BMNR is trading more than 2% higher today.
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