Bitmine Hits 4.8% ETH Stake, Buys $19M More
Bitmine adds 9,926 ETH, bringing its treasury to 5.8 million tokens.
The update
Tom Lee’s Bitmine has purchased an additional 9,926 Ethereum tokens, valued at roughly $19 million. This latest acquisition brings the company’s total Ethereum holdings to 5,815,164 ETH. According to the firm, this position now represents 4.8% of Ethereum’s circulating supply. Bitmine is 96% of the way toward its self-described goal of owning 5% of ETH.
Why it matters
Bitmine has maintained a weekly buying streak since last summer. The company’s strategy aims to accumulate a significant portion of the network’s supply. Chairman Tom Lee has linked this accumulation to the maturation of tokenization and agentic-AI applications. He also noted that the rising price ratio of ETH against Bitcoin signals a potential shift in market trends.
What to watch
Bitmine’s treasury strategy is aggressive and has already reached a substantial percentage of the circulating supply. The company’s total crypto, cash, and other holdings stand at approximately $11.4 billion. Market observers will likely monitor whether this accumulation influences ETH’s price or sets a precedent for other corporate treasuries.
Sources
- decrypt.co — Specific ETH quantity (9,926), total holdings (5,815,164 ETH), total value (~$11 billion), and 4.8% circulating supply figure.
- coindesk.com — Confirmation of the latest purchase and the 4.8% circulating supply stake.
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