BitMine’s Ether Holdings Pass 6 Million as Tom Lee Expects More Institutional Buying

BitMine added 17,362 ETH last week, pushing its total above 6 million for the first time and keeping its unbroken streak of weekly purchases alive.

BitMine Ethereum Holdings Reach 6,001,302 ETH

The company held 6,001,302 ether, about 4.9% of Ethereum’s total supply. It has bought every week since starting its ETH treasury strategy on June 30, 2025. Total crypto, cash and other investment assets are worth about $17.2 billion. That includes $672 million in cash and marketable securities, 213 bitcoin, $180 million in Beast Industries equity assets and a $115 million stake in Eightco Holdings (ORBS).

ETH Staking Yield and Rewards

BitMine’s staked ether stands at 5,067,309, or 84% of its holdings, valued near $13.7 billion. The annualized staking yield is roughly $358 million.

Tom Lee Ethereum Outlook: Institutions Still Underweight

In the weekly update, Tom Lee said ether has beaten the S&P 500 by more than 6,728 basis points so far in the third quarter, calling it the world’s best macro asset. He said the crypto bull market began in late June and that institutions remain underweight crypto, with sharp increases expected in the final months of 2026.

Lee is set to give a keynote at Korea Blockchain Week in Seoul on Sept. 30.