Bitmine, the company founded by Tom Lee, has purchased another $47 million of Ethereum, bringing its total holding to 4.9% of the circulating supply. The firm has been adding to its stash every week since mid-2025, a consistent pattern of buying that has turned it into one of the largest holders of any kind.
Over the past week, the firm bought 17,362 ETH, which came to less than $47 million based on the $2,698 snapshot price cited in its announcement. By Friday afternoon, its holding stood at 6,001,302 ETH, with a value of roughly $16.2 billion, representing about 4.9% of the approximately 122.1 million tokens circulating.
The Weekly Buying Pattern
Since the strategy started on June 30, 2025, Bitmine has added Ethereum every week, a streak Lee credits with “unmatched by any public company in the world.”. The firm’s stated goal is the “Alchemy of 5%,” and it claims to be 98% of the way toward reaching it after 15 months.
What the Holdings Actually Cover
Total holdings reach $17.2 billion once everything is counted, including:
- 213 BTC
- $672 million in cash and marketable securities
- Two equity stakes the company files under “moonshots”: $180 million in Beast Industries and $115 million in Eightco, which Bitmine describes as one of the only listed vehicles offering indirect exposure to OpenAI
Over five million of the 6,001,302 ETH are locked up, producing a 7-day annualized return of 2.62%. Bitmine has locked away 5,067,309 ETH, which represents 84% of its total holdings, valued at $13.7 billion, largely via MAVAN, the institutional staking platform the company constructed for its own treasury before opening it to outside investors.
At a 7-day annualized yield of 2.62%, Lee puts current projected staking revenue at $358 million a year, rising to $424 million if everything is staked.
The Bull Market Case
A crypto bull market began in late June, according to Lee’s reading of the market. He said it started then, “In our view, institutions are still underweight crypto and we expect them to be adding to their exposure in the final months of 2026.”
Lee says ETH is the top performer among macro assets for the quarter, noting that it has beaten the S&P 500 by roughly 67 percentage points since the end of June. The cryptocurrency is currently trading around $2,700, well below its highs.
Where Bitmine Sits Now
Strategy’s Bitcoin treasury firm currently holds 847,666 BTC worth roughly $71 billion, making it the largest corporate crypto treasury of any kind, with Bitmine ranking second and taking over as the biggest Ethereum treasury. Bitmine’s list of backers includes Cathie Wood, Founders Fund, Pantera, Kraken, Galaxy Digital and Bill Miller III.
Bitmine has kept a steady course throughout, and its standing is marked by a consistent record. According to Lee, it has staked more ETH than other entities in the world, and its weekly buying pattern remains unmatched by any public company in the world.
Bitmine’s total holdings stand at $17.2 billion, with cash, marketable securities and equity stakes all counted under “moonshots,”. The ETH stake makes up a large share of the portfolio. That variety of assets gives Bitmine room to maneuver, even as the weekly Ethereum buy remains the central wager.
Source material: “Tom Lee's Bitmine Buys Another $47M of ETH, Taking It to 4.9% of Ethereum Supply,” Decrypt.
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