Tom Lee’s BitMine Buys Another $79M Ethereum, BMNR Stock Soars 7%

BitMine Immersion Technologies has just added more crypto to its expanding crypto treasury, namely Ethereum. The new acquisition arrives on back of a hefty weekly rally in ETH. The company is also closing in on the goal of buying 5% of Ethereum’s total supply.

BitMine Buys More Ethereum Amid Price Surge

BitMine Chairman Thomas “Tom” Lee said that the company brought 32,447 ETH in the last week. The most recent purchase comes to approximately $79 million, based on the ETH price of $2,440, the company stated. Since the launch of its ETH Treasury Strategy on June 30, 2025, BitMine has been purchasing ETH weekly.

With the new Ether purchase, BitMine’s total holdings of Ethereum have risen to 5,847,611 ETH. This company now has 4.8% of the control of all the Ethereum coins with a total of 120.7 million coins. That takes it 97% of the way towards the “Alchemy of 5%” goal.

“ETH gained 30% in the past week. This is the largest weekly gain since May 2025, prior to that it was July 2021,” Lee said. Earlier, he shared a bullish Ethereum price prediction, which he has doubled down on.

He also highlighted the performance of ETH after the previous rallies. Ethereum has since rallied 167% following the July 2021 move, and 170% from the May 2025 surge. The week’s gain is the potential starting point for the latest weekly move, Lee said.

“We expect easing financial conditions to be a tailwind for crypto,” Lee added.

Lee also spoke of changes outside of the monetary arena. The rise of Wall Street’s attention to tokenization on the blockchain and agentic AI on blockchain networks could be useful to Ethereum’s next phase, he said.

BMNR Stock Surges After Latest ETH Purchase

Bitmine’s stock has also rallied during Monday’s session. Market data at press time indicates that BMNR stock traded at $24.27, a change of $1.44 or 6.31%, from its previous close of $22.83. The stock started at $23.60 and maxed out at $24.46 during the day. Its low stood at $23.23.

BitMine has also staked 5,067,309 ETH, valued at about $12.4 billion at $2,440 per coin. Staked ETH is equivalent to 87% of its total ETH holdings.

The company now estimates annualized staking revenues to be $330 million. It earned a 2.67% 7-day annualized return from its own staking service.

BitMine’s total crypto, cash, marketable securities and “moonshots” were valued at $14.9 billion by the 23rd of August. The total is composed of 210 BTC, $308 million in cash and marketable securities, $180 million in stake in Beast Industries and $89 million in stake in Eightco Holdings.

BitMine was added to the Russell 1000 Large-cap index on June 26, 2026. It has a ticker symbol of BMNP, and is listed on the NYSE under its Series A Preferred Stock.