Tom Lee's BitMine Makes Biggest Ethereum Buy Yet in 2026

Publicly traded Ethereum treasury steadfast BitMine Immersion Technologies added 111,942 ETH, oregon much than $237 cardinal worth, to its equilibrium expanse past week, marking the firm’s largest bargain yet this twelvemonth arsenic denominated successful ETH.

The acquisition brings the firm’s full holdings to 5,390,404 ETH valued astir $11.4 cardinal arsenic Ethereum trades astir $2,117 connected Tuesday morning.

BitMine present holds much than 4.4% of the circulating ETH token supply, amended than 88% of the mode to its extremity of hitting 5%—a feat it anticipates achieving “sometime successful 2026,” according to its chairman, Tom Lee. 

(Disclaimer: Tom Lee is an capitalist successful Decrypt’s parent company, Dastan).

Lee precocious telegraphed that the firm would dilatory down its Ethereum acquisition velocity, arsenic it didn’t privation to scope the 5% people excessively quickly. However, with ETH trading beneath $2,200, the BitMine frontman said past week that the steadfast viewed this arsenic an “attractive opportunity” to adhd to its position. 

"We proceed to expect a supercycle up for crypto and Ethereum, driven by the dual drivers of Wall Street tokenization and agentic-AI. And thus, we proceed to steadily get ETH, with BitMine present owning astir 5.4 cardinal ETH tokens,” helium said successful a statement. 

Of the firm’s 5.39 cardinal ETH, much than 4.7 cardinal ETH—or astir $10 cardinal worth—is being staked via its concern staking platform, the Made successful America Validator Network (MAVAN). Based connected its existent staking numbers, BitMine anticipates annualized staking revenues of much than $276 million. 

Bitcoin Giant Strategy Slashes Cash Reserves by 61% to Repurchase $1.5 Billion successful Debt

Shares of BitMine (BMNR) person jumped astir 3.3% since the opening bell, precocious changing hands astatine $19.51. At that mark, shares person fallen astir 12% successful the past period and much than 38% successful the past six months of trading.

But the steadfast expects a liquidity injection adjacent period arsenic it gets added to the Russell 1000 index, an scale that tracks the 1,000 largest companies successful the United States. Ahead of its inclusion, Lee hinted that passive scale funds and ETFs whitethorn create a question of automated demand. 

The firm’s treasury asset, Ethereum, has dropped 2% successful the past 24 hours to commercialized astir $2,078. The second-largest crypto plus by marketplace headdress has fallen much than 11% successful the past period and remains astir 58% disconnected its August all-time precocious of $4,946.