Tom Lee’s BitMine Buys 53,501 Ethereum, Boosts Holdings to 5.90M ETH

BitMine Immersion Technologies has added another 53,501 Ethereum to its treasury, extending a buying streak that began in June 2025. The purchase lifted total ETH holdings to 5,901,112 tokens as of August 30, 2026.

At an ETH price of $2,511, the position was worth about $14.8 billion. According to BitMine, these ETH holdings represent roughly 4.9% of Ethereum’s total 120.7 million token supply.

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BitMine Extends Ethereum Buying Streak

BitMine has now purchased ETH during each of the past 65 weeks, according to Chairman Tom Lee. The strategy began on June 30, 2025, and has continued through every week since then.

“Over the past week, we acquired 53,501 ETH,” Lee said. He added that the company has kept adding Ethereum throughout the full treasury strategy period.

BitMine also holds 211 Bitcoin, while other investments include stakes in Beast Industries and Eightco Holdings. Cash and marketable securities stood at $541 million.

Lee said Ethereum has outperformed other major macro assets during the current quarter. He also pointed to BTC and SOL as other strong performers since June 30.

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Staked ETH Reaches 5.07 Million Tokens

According to the report, BitMine has staked 5,067,309 ETH, valued near $12.7 billion at the market price, which represents about 86% of the company’s total Ethereum holdings.

The company, as a result, projects annualized staking revenue of around $335m, with the estimate based on a seven-day annualized staking yield of 2.63%.

BitMine also operates MAVAN, its institutional staking platform launched earlier in 2026. Part of the company’s ETH is already staked through that network.

Lee said projected staking rewards could reach $390 million annually once more ETH is fully deployed. That figure assumes similar yield conditions across MAVAN and partner validators.

Treasury Value Reaches $15.6 Billion

BitMine’s wider balance sheet includes crypto assets, cash, listed securities, and other strategic investments. The company placed the combined value at $15.6 billion as of August 30.

The firm remains the largest Ethereum corporate treasury by reported holdings. However, Michael Saylor’s Strategy still ranks ahead globally by total digital asset treasury value because of its Bitcoin position.

BitMine also remains heavily traded on U.S. markets. Average daily dollar trading volume reached about $1.36 billion over five sessions through August 29.

Lee said the company expects institutional crypto buying to remain active through the final months of 2026. He cited tokenization and agentic AI among the themes driving Ethereum demand. After the announcement, the BMNR stock has recovered to trade near $23.97 at press time, up 0.71% on the day.

Ethereum Price Still Faces $2,550 Resistance

As Bitmine continues to expand its ETH treasury, the Ethereum price continues to struggle below the $2,540 to $2,550 resistance zone. At press time, ETH was trading near $2,453 after another failed attempt to break higher.

Source: X

The price is also sitting between the 50-week EMA near $2,374 and the 50-week SMA near $2,542, which keeps the ETH price inside a broader consolidation range.

According to crypto analyst Ted, a weekly reclaim above $2,550 could open the way toward resistance near $2,800. However, failure to hold $2,370 could expose lower support around $2,180 to $2,220.

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