Bitmine Buys $75M ETH, Nearing 5% Supply Target
Bitmine added 27,562 ether to its treasury last week. Tom Lee predicts institutions will increase crypto exposure by year-end.
Key points
- Bitmine bought 27,562 ETH worth $75.2 million, reaching 4.9% of total supply.
- The firm stakes 85% of holdings, projecting $357 million in annual revenue.
- Tom Lee predicts institutions will increase crypto exposure in late 2026.
Bitmine purchased 27,562 ether worth $75.2 million last week. This acquisition brings its total holdings to 5,983,940 ETH.
The firm now controls 4.9% of the 122.1 million token supply. This position sits just below its stated goal of owning five percent.
Staking Revenue Drives Treasury Strategy
Bitmine has staked approximately 5 million ETH across its network. This represents roughly 85% of its current total holdings.
The company projects annual staking revenue of $357 million at current yields. Bitmine shares rose 5.8% pre-market on Monday.
Ether prices hit a fresh high since late January overnight. This momentum extends Bitmine’s weekly buying streak since June 2025.
Institutional Underweighting Creates Opportunity
Chairman Tom Lee states that institutions remain underweighted in crypto assets. He attributes this gap to early 2026 AI stock performance.
Ether has risen 76% since late June, outpacing the S&P 500’s 2% gain. Lee expects fund managers to close this exposure gap soon.
Long-Term Drivers For Institutional Adoption
Lee highlights tokenization and blockchain integration in AI as key drivers. These factors may sustain institutional interest beyond short-term price movements.
CoinDesk reports that Bitmine continues its aggressive accumulation pace. The firm expects to reach its five percent target within months.
