Bitmine Acquires $236 Million in Ether, Eyes 5% of Total Supply
Bitmine has purchased 101,901 ETH, amounting to $236 million, raising its total holdings to over 5 million ETH. This move positions Bitmine as the largest known ETH treasury, while Tom Lee labels ETH a crucial 'wartime store of value' amidst rising demand for digital assets, according to CoinDesk.
Bitmine, the ether treasury firm led by Thomas Lee, recently acquired 101,901 ETH worth approximately $236 million. This purchase increases its total holdings to 5,078,386 tokens, representing about 4.21% of ether's circulating supply.
Since converting from a bitcoin mining operation to a digital asset treasury in June, Bitmine has significantly expanded its ETH portfolio. Most other digital asset treasury companies have paused their acquisitions, which highlights Bitmine's aggressive strategy in this market.
Alongside its extensive ETH holdings, Bitmine has also staked more than 3.7 million ETH, generating an annual revenue of around $264 million through its staking operations. The company aims to eventually acquire 5% of the total ETH supply.
Tom Lee characterized ether's evolving role in the market as increasingly significant, stating that it serves as a "wartime store of value". He noted that ETH has been outperforming traditional markets, underscoring its utility in financial transactions and as collateral.
Summary based on original reporting by Krisztian Sandor at CoinDesk, originally published Apr 27, 2026. SolanaWire does not republish source content.
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