Tom Lee’s BitMine Raises Ether Holdings to 5.77 Million Tokens

BitMine, led by Tom Lee, has built one of the largest corporate ether treasuries by accumulating ETH and putting much of the position to work through staking. The company now reports about $11.5 billion in total assets and has roughly 85% of its ether staked for annualized yield. Its allocation decisions are closely watched as a gauge of how crypto treasury companies balance further digital-asset expansion against returns of capital to shareholders.

In its latest weekly disclosure, BitMine said it added 7,430 ETH, taking its holdings above 5.77 million tokens, with some reports placing the total near 5.78 million. The pace of purchases slowed as the company spent $86 million to repurchase 5.5 million common shares. The shift comes as market commentary points to a possible ETH price of $2,200 in August, underscoring BitMine’s effort to combine staking income and treasury growth with stock buybacks.

Bitmine, the world's largest corporate holder of ether, continues to use company funds to build its ETH reserve, with the market watching how its large purchases affect supply and prices. As its holdings approach 5% of Ethereum's total circulating supply, the company has become an important gauge of institutional crypto adoption.

Bitmine recently spent about $43 million to acquire another 27,084 ETH, further increasing its total holdings. Chairman Tom Lee said the recent weakness in cryptocurrencies was primarily driven by quarter-end "window dressing" in late June, as investors exited impaired positions before the second half began, creating short-term selling pressure.

BitMine has made Ethereum (ETH) its primary treasury asset, using continued purchases and staking to build the world’s largest Ethereum treasury. Its long-term goal is to hold close to 5% of ETH’s circulating supply. Chief Executive Tom Lee believes the Ethereum network’s applications and yield-generating capacity remain supportive, and that short-term price volatility does not alter the company’s strategy.

In the week through July 19, 2026, BitMine deployed about $92 million during a market decline to buy an additional 127,000 ETH, raising its total holdings to 5.54 million ETH. About 4.72 million ETH had been staked to earn an annualized yield. Lee described the recent selling pressure as a “surface phenomenon” unrelated to fundamentals.

Bitmine, led by Fundstrat co-founder Tom Lee, has adopted an “Ethereum MicroStrategy” strategy that makes Ether a core corporate reserve asset. Its long-term goal is to hold 5% of the circulating supply. The concentrated buying is affecting ETH supply and demand and reflects a new trend of listed companies using crypto assets to strengthen their balance sheets.

As of mid-July 2026, Bitmine had spent about $53 million to buy roughly 26,500 ETH in the previous week, well below its earlier pace of about 100,000 tokens per week. The company has bought more than 1 million ETH since the start of the year and now holds about 5.2 million, representing 4.31% of Ether’s circulating supply. Lee expects it to reach the 5% target by December.

BitMine Immersion Technologies has amassed Ether on its corporate balance sheet, aiming to control 5% of the global circulating supply while generating yield through staking. The strategy has made it the world’s largest corporate holder of ETH, while closely tying its valuation to the token’s price, regulatory developments and the risks of concentrated ownership.

BitMine said on March 23, 2026, that its total assets had reached $11 billion and that it held 4,660,903 ETH, equal to 3.86% of supply. It added 65,341 tokens worth about $138 million in one week. Holdings had exceeded 5.18 million tokens by May 7. Chairman Tom Lee said the company would slow its purchases as it approached the 5% target and viewed the CLARITY Act as a positive catalyst.