Tom Lee's Bitmine Adds $70 Million in Ethereum, Holdings Reach 5.93 Million ETH

In brief

• Bitmine bought 28,086 ETH last week, worth about $70 million at its reported reference price.
• Its crypto, cash, securities, and other investments total $15.7 billion, the company says.
• Bitmine has staked about 85% of its ETH and projects $330 million in annual staking revenue.

Bitmine Immersion Technologies bought another 28,086 Ethereum tokens last week, bringing its holdings to 5.93 million ETH as it approaches its goal of owning 5% of the cryptocurrency’s supply.

The purchase was worth approximately $70 million at the company’s reference price of $2,495 per token. Bitmine did not disclose its acquisition cost.

“Bitmine's track record of consistent buying of crypto is unmatched by any public company in the world,” Bitmine Chairman Tom Lee said in a statement. “Bitmine has bought ETH each and every week since the inception of the ETH Treasury Strategy on June 30, 2025." (Disclosure: Tom Lee is an investor in Dastan, Decrypt’s parent company.)

The acquisition was smaller than the 53,501 ETH purchase announced the previous week. Bitmine has bought Ethereum weekly since launching its treasury strategy in June 2025, according to the company.

According to Lee, Ethereum was the best-performing major asset in the third quarter through last Friday, with gains exceeding those of the S&P 500 stock index by 54.3 percentage points.