Tom Lee’s BitMine Boosts Ethereum Holdings Amid Market Dip
BitMine, led by Tom Lee, increased its Ethereum holdings to 3.5 million ETH, making it the world's largest ETH treasury.Summary
BitMine Immersion Technologies announced its total crypto and cash holdings reached $13.2 billion, primarily driven by a significant accumulation of Ethereum. The company now holds 3.5 million ETH, valued at about $12.7 billion, alongside 192 BTC and cash reserves. This accumulation means BitMine controls approximately 2.9% of Ethereum's total supply, positioning Tom Lee's firm as the largest ETH treasury globally, second only to MicroStrategy's Bitcoin holdings. Lee stated they acquired 110,288 ETH in the past week, pushing them halfway to their goal of holding 5% of the supply, viewing Ethereum as the foundation for the next financial super cycle due to institutional interest in tokenization. Originally a Bitcoin mining firm, BitMine is strategically shifting its focus to treasury management centered on ETH. Despite high stock volatility, BMNR has seen strong liquidity and a significant rally since Peter Thiel disclosed a stake in July.
(Source：BeInCrypto)