Bitmine Reaches 5.2 Million ETH in Ethereum Holdings
Ethereum treasury company Bitmine announced another top-level Ethereum purchase this week — a purchase of 26,659 ETH. After this most recent purchase, the company holds 5,206,790 ETH in total, which is approximately 4.31% of Ethereum’s circulating supply. The functionality allows Bitmine to maintain an aggressive growth strategy and is indicative of their longer-term confidence in Ethereum.
Bitmine is Not Done With Their Aggressive ETH Accumulation Strategy
Bitmine has amassed over 1 million ETH since early October, the latest update from the company reveals. When reached for a comment, Chairman Tom Lee said that the company’s strategy is to unconditionally hold and stake its ETH reserves instead of converting them into fiat.
According to Lee, Bitmine’s purchase on such a large scale is actually decreasing the liquid supply of Ethereum that can be legally traded. He said that Ethereum’s supply dynamics have been leaning more disinflationary since June 2025, with the company now holding over 4.3% of total ETH supply. A decrease in the amount of circulating supply could provide bullish upward pressure on ETH if demand continues to climb.
In addition, the company said that 4,712,917 ETH from its treasury has already been staked, an amount that is valued at approximately $11.1 billion. Bitmine estimates that staking rewards of just under $352 million will accrue once all its holdings are fully staked based on current staking yields. With this strategy, the company is able to earn passive income and strengthen its long-term position in Ethereum.
The “Crypto Spring” Is Here, Says Tom Lee
Tom Lee: The “crypto spring” has finally arrived, which means that the rest of the digital asset market could be starting a new bull market. In Lee’s view, two of the largest forces propelling Ethereum in the future will be 1) Tokenization being adopted by Wall Street and 2) advancements in agentic artificial intelligence technologies.
As the majority of financial institutions are still in the process of building blockchain-based systems based on Ethereum, Lee said that he believes Ethereum is positioned at the core of tokenization infrastructure. GÜNAYDIN believes there will be increasing demand for decentralized blockchain infrastructure in the future from AI-driven applications.
Another bullish sign brought up by Lee regards Ethereum’s price on a monthly basis. He said that as long as ETH closes the month above $2,100, it will be the third consecutive month of gains. He claims that this sort of pattern has never emerged in the history of a crypto bear market and, if it did so, would mean the beginning of a new macro uptrend for the markets.
Weekly ETH Purchases Slow at Bitmine
While Bitmine has been on a buying rampage, it announced plans to slow the pace of its ETH purchases from 2000 ETH a week. In recent months, the firm had been acquiring upwards of 100,000 ETH every week. Bitmine did so right before its latest acquisition, which saw the company add 101,745 ETH in what was the second-largest Ethereum purchase by Bitmine since December 2025.
What? Lee said the company was originally aiming for what he called the “alchemy of 5%” by late 2026. Nevertheless, due to the fast acquisitions receive bitmine would have long since reached this milestone, even ahead of time maybe by mid-July 2026.
BMNR Stock Moving Up and Down
We keep accumulating Ethereum, and this is still going after Bitmine on the stock market. While BMNR stock is still down around 20% year-to-date, shares have staged a generous bounce within the past two months, in keeping with Ethereum recouping ground.
BMNR traded at about $22, down less than 1% during market open trading on the day of the new purchase announcement, according to TradingView data. The stock is nonetheless up about 2% this week alone after catching potentially bullish momentum from the broader Ethereum rally, which has improved investor sentiment.
Conclusion
The Bitmine Hold continues to solidify its status as the largest institutional by far holder of Ethereum, owning now in total more than 5.2 million ETH, representing more than 4.31% of the total existing Ether supply. Moreover, the strategy of staking over 4.7 million ETH also presents an extremely large, high-margin net present value (NPV) revenue opportunity through expected annual staking rewards of $352mil USD.
On the other hand, Chairman Tom Lee continues to be very bullish on Ethereum and claims that tokenization, together with AI’s rising adoption and things looking up at the market, are great catalysts for “crypto spring.
The BMNR stock is still very volatile, but Bitmine’s aggressive strategy to start accumulating Ethereum so massively only sheds more light on how institutions are finding ever-increasing confidence in the potential for ETH as a primary digital asset with new developments in the global financial structure.
