Bitmine Edges Closer to Owning 5% of All Ether After Another Weekly Purchase

Bitmine, chaired by Tom Lee, added 9,587 ETH last week, a buy worth about $20.3 million at current prices. Its total stash has grown to 6,070,092 ETH, valued at more than $12.9 billion. Including cash, marketable securities and other investments, its combined holdings come to $14.3 billion. That ether pile equals about 4.97% of the roughly 122.2 million ETH in circulation, which puts Bitmine 99% of the way to its “Alchemy of 5%” goal, a plan it began in June 2025.

Ethereum Staking Rewards and Other Bitmine Assets

More than 86% of the company’s ether is already staked, with 5,227,037 ETH worth about $11.1 billion locked in. Lee says current staking brings in around $309 million a year, and full staking would lift that to $359 million. Beyond ether, Bitmine holds 216 BTC worth $16.1 million, a $75 million stake in Eightco Holdings, a $180 million stake in Beast Industries and $475 million in cash and marketable securities.

Tom Lee’s ETH Supercycle Prediction

Store of Value Narrative and Tokenization

Lee linked the buying to Vitalik Buterin’s Devcon 8 remark in Mumbai that ETH is a store of value and money, calling it a seismic shift in how the asset captures value during a coming supercycle of tokenization and AI. He argued ETH is not a cash flow token like HYPE or LIT but trusted collateral, and that most financial institutions moving assets onchain choose Ethereum as their base layer.