Tom Lee’s BitMine Acquires 3.5% of Ethereum Supply as Treasury Reaches 4.24M ETH Purchase

BitMine Immersion Technologies, a company listed in New York and led by Fundstrat’s Tom Lee, has discreetly established one of the most significant concentrated holdings in Ethereum ever reported by a single organization.

In an announcement made on January 26, BitMine revealed that it currently possesses 4,243,338 ether, which equates to approximately 3.52% of Ethereum’s total circulating supply.

BitMine shared its most recent holdings update for January 26th, 2026:
$12.8 billion in total cryptocurrency + “moonshots”:
– 4,243,338 ETH at $2,839 (@coinbase)
– 193 Bitcoin (BTC)
– $200 million investment in Beast Industries @MrBeast
– $19 million investment in Eightco Holdings (NASDAQ: $ORBS)…

— Bitmine (NYSE-BMNR) $ETH (@BitMNR) January 26, 2026

At the time of this announcement, the position was valued at approximately $12 billion, positioning BitMine as the holder of the largest Ethereum treasury globally and the second-largest crypto treasury overall, following Strategy Inc., previously known as Strategy, which has over 700,000 bitcoin.

BitMine Intensifies ETH Acquisition as Prices Decline

This disclosure illustrates the rapid expansion of BitMine’s balance sheet over the previous six months.

Weekly purchasing data released by the company reflects consistent accumulation since late October 2025, with particularly significant buying activity noted in December.

During the week ending January 26 alone, BitMine acquired just over 40,000 ETH, following purchases exceeding 35,000 ETH the week before and several six-figure ETH acquisitions in December.

Last week, the company took advantage of the dip, acquiring $110 million worth of Ethereum.

BitMine @BitMNR now controls 3.48% of Ethereum’s total supply after adding $110M in $ETH during the dip, moving closer to its “Alchemy of 5%” goal.#Ethereum #BitMinehttps://t.co/W74cW2b8XH

— Cryptonews.com (@cryptonews) January 21, 2026

The accumulation rate has persisted even as ether prices have softened, with ETH experiencing a double-digit decline over the past month amid broader market volatility.

Ethereum is presently trading at $2,940.44, reflecting a 2.0% increase over the last hour, suggesting a resurgence of short-term buying pressure in the market.

Source: Cryptonews

Over a 24-hour period, ETH has experienced a slight 0.4% rise, indicating relatively stable price movements despite wider market fluctuations.

Nevertheless, in the last week, Ethereum has fallen by 8.4%, dipping as low as $2,787.

Source: Bitmine

According to the company, BitMine’s overall crypto, cash, and equity holdings now amount to $12.8 billion.

In addition to its Ethereum holdings, the firm possesses 193 bitcoin, $682 million in cash, a $200 million stake in Beast Industries, and a smaller equity position in Eightco Holdings.

BitMine’s Ethereum Strategy Approaches the 5% Threshold

The company is traded on the NYSE American under the ticker BMNR and was last valued at approximately $28.50, showing a slight decline for the day and a marginal decrease over the past week.

The accumulation of Ethereum is pivotal to BitMine’s articulated long-term strategy, as it has openly set a goal of acquiring 5% of Ethereum’s total supply, a target it designates as the “alchemy of 5%.”

Based on current supply estimates, achieving that level would necessitate close to 6 million ETH.

At present market rates, closing this gap would require several billion dollars in additional investments.

BitMine Expands Ethereum Staking as Holdings Increase

In addition to holding ether on its balance sheet, BitMine is also enhancing its staking operations. As of January 25, the company had staked 2,009,267 ETH, valued at around $5.7 billion, which accounts for nearly half of its total assets.

Source: Bitmine

Utilizing the average Ethereum staking rate of approximately 2.81%, BitMine estimates that a fully deployed staking strategy could yield about $374 million in annual fees, equating to more than $1 million daily.

Currently, the company depends on external staking service providers, but it intends to launch its infrastructure, dubbed the Made in America Validator Network, or MAVAN, in early 2026.

BitMine @BitMNR plans an early-2026 launch of its MAVAN validator network, aiming to turn a $12B Ether treasury into staking yield at scale.#BitMine #Staking https://t.co/YOlkeNouQu

— Cryptonews.com (@cryptonews) December 30, 2025

Chairman Tom Lee has characterized the Ethereum strategy as a long-term investment in the institutional adoption of blockchain technology.

Following last week’s World Economic Forum gathering in Davos, Lee noted that conversations among policymakers and business leaders increasingly highlight the intersection of traditional finance, cryptocurrency, and artificial intelligence.

He cited Ethereum’s significance in tokenization and financial infrastructure projects as an indication that Wall Street is already building on the network.

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