Ethereum · BitMine Immersion Technologies · Bitcoin · The Block
‘Crypto bull market is underway,’ Tom Lee says as Bitmine nears 5% Ethereum supply target with 27,562 ETH buy
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Tom Lee-chaired Ethereum (ETH) treasury company Bitmine's (BMNR) holdings have reached 5,983,940 ETH, worth around $16.3 billion at current prices, following its latest weekly acquisitions.
Key facts
- Tom Lee-chaired Ethereum (ETH) treasury company Bitmine's (BMNR) holdings have reached 5,983,940 ETH, worth around $16.3 billion at current prices, following its latest weekly acquisitions
- Bitmine is also the second-largest public crypto treasury company overall, behind Michael Saylor's Strategy, which holds 846,000 BTC ($71.9 billion) following its latest weekly acquisition, also
- And this 5.1 million ETH is 85% of the 5.98 million ETH held by Bitmine
- Bitmine bought another 27,562 ETH since its last update on Sept. 14, reporting Monday that its total crypto, cash, marketable securities, and other investments stood at $17.1 billion
Summary
Bitmine bought another 27,562 ETH since its last update on Sept. 14, reporting Monday that its total crypto, cash, marketable securities, and other investments stood at $17.1 billion. "We believe a crypto bull market is underway, having started in late June, driven by a multitude of factors including the rotation from AI back to crypto, strengthening crypto fundamentals centered around both tokenization and AI and lastly, the ending of the 4-year cycle," Lee said in the statement. "To us, this massive outperformance of ETH in 3Q26 is viewed as a prelude to a potentially stronger up move in the 4th quarter of 2026," Lee added. As of Sept.