Breaking: Tom Lee’s BitMine Buys Another $70M Ethereum, Now Close To 5% ETH Supply Goal

BitMine Immersion Technologies has made another large Ethereum buy, acquiring a total of 28,086 ETH in the past week. Meanwhile, Chairman Tom Lee remains bullish on the future of ETH price after the recent rally.

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BitMine Expands Ethereum Treasury With $70 Million Buy

The latest acquisition would be valued at around $70 million at the average price of ETH around $2,495. The acquisition is expected to add 5,929,198 ETH to the company’s current holdings, bringing its total ETH stake to 5% of the network’s supply, as it continues to work towards reaching this target.

The company claimed that its Ethereum treasury now accounts for 4.9% of the estimated total ETH supply of 122 million as of Sept. 7. In addition to its crypto holdings, cash, and marketable securities, BitMine’s total assets are approximately $15.7 billion, which also includes strategic investments.

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BitMine provided its latest holdings update for September 8, 2026

$15.7 billion in total crypto + "moonshots":
– 5,929,198 ETH at $2,495 per ETH per ETH per ETH (per @coinbase)
– 211 Bitcoin (BTC)
– $180 million stake in Beast Industries @MrBeast
– $91 million stake in…

— Bitmine (NYSE-BMNR) $ETH $BMNP (@BitMNR) September 8, 2026

Whilst, Lee said that the company has been buying for a long time since it announced the Ethereum treasury plan in June 2025. He noted, “Over the past week, we acquired 28,086 ETH.”

Lee further noted that BitMine has been buying Ethereum since the strategy was initiated, once a week. He said the firm’s build-up is unmatched in terms of its record among publicly listed companies.

The company also revealed that over 5.06 million ETH is currently staked on its Made in America VAlidator Network (MAVAN). Those staked holdings are worth approximately $12.6 billion based on current prices. When it comes to staking revenue, BitMine estimates that it will generate approximately $330 million in annualized revenue based on the current yield.

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Tom Lee On The Future of Ethereum, Crypto Market

Lee highlighted the strong results in digital assets this quarter. He said Ethereum has been the top-performing macro asset in Q3 2026, beating the S&P 500 by 5,430 basis points. He also pointed out that Bitcoin and Solana are two of the top-performing assets over the past quarter.

Lee further added, “We believe there are multiple positive catalysts as we head into the final months of 2026.”

In addition, Lee underscored upcoming voting on the CLARITY Act in mid-September, rising investor enthusiasm for cryptocurrencies in South Korea and ongoing interest in blockchain tokenization and agentic AI as factors that could fuel the market.

Additionally, BitMine stated that its common stock is up 99% this quarter, the fourth-best performing stock in the Russell 1000, and noted that its common stock has a 14.98% yield. In June, the company joined the Russell 1000 large-cap index, and the crypto segment holds four of the index’s top 21 performers this quarter, the company said.