Tom Lee’s Bitmine Announces 12,535 ETH as BMNR Stock Falls
Highlights
- Bitmine acquired 12,535 ETH over the past week.
- Tom Lee noted the decline in the risk appetite of crypto investors.
- The BMNR stock is up at the market open today.
Ethereum treasury firm Bitmine has acquired 12,535 ETH over the past week, extending its streak of consecutive weekly purchases. This comes as the BMNR stock falls, declining alongside the broader crypto market.
Bitmine Adds 12,535 ETH, BMNR Stock Climbs
According to a press release, the Ethereum treasury firm revealed that it acquired 12,535 ETH over the past week. “Bitmine’s track record of consistent buying of crypto is unmatched by any public company in the world. Bitmine has bought ETH each and every week since the inception of the ETH Treasury Strategy on June 30, 2025,” the release read.
The company now holds 6,041,481 ETH, representing 4.9% of the total Ethereum supply, and is 99% of the way to holding 5% of the total supply. Meanwhile, Bitmine’s total staked ETH stands at 5,067,309, worth $12 billion.
This purchase follows Bitmine’s 12,532 ETH purchase, which it announced last week. The company’s chairman, Tom Lee, said they are in a good position to outperform the upcoming crypto bull market, as they have strengthened their position in the bear market.
The BMNR stock has fallen amid the announcement of this latest Ethereum purchase. The crypto stock is currently trading at around $21, down over 1% at the market open. The stock is also down more than 5% over the last five days.
Tom Lee Comments On Decline In Risk Appetite
The Bitmine chairman cited a worrying combination of AI funding and AI model safety as part of the reasons for the contraction in investors’ risk appetite over the past few weeks. He also noted escalating tensions in the U.S.-Iran war, anxiety around the U.S. midterm elections, and rising global bond yields.
“This has triggered a selloff in AI stocks including semis and memory stocks, and has further led to selloffs in the Korean and Taiwan markets, both of which are dominated by semis and memory stocks,” he said. Tom Lee added that there are many crypto investors in these markets. As such, there is usually a spillover into the crypto markets.
He suggested that the decline in crypto prices presents an opportunity to accumulate more as fundamentals remain resilient and strong. “In the past, whenever fundamentals remain resilient and strong, while price declines, these have historically been attractive risk/reward opportunities,” the Bitmine chairman said.
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