Tom Lee’s Bitmine Just Gobbled Up 99,000 ETH – Ethereum’s Treasury Is Ballooning

A crypto mining heavyweight just made a monumental bet on Ethereum's future.

The Whale-Sized Move

Bitmine, the mining operation linked to Fundstrat's Tom Lee, executed a staggering accumulation of 99,000 ETH. This isn't casual trading—it's a strategic treasury expansion that signals deep institutional conviction. The move directly injects nearly a hundred thousand coins into a corporate vault, effectively taking them off the volatile open market.

Reading the Crypto Tea Leaves

When a firm known for its mining prowess shifts focus to hoarding Ethereum, it speaks volumes. It suggests a pivot beyond pure computational power towards valuing the asset itself as a long-term store of value. This kind of accumulation often precedes broader institutional moves, creating a supply squeeze that traditional finance analysts might later call "unforeseen" in their reports.

The Ripple Effect

This purchase does more than just pad Bitmine's balance sheet. It reinforces Ethereum's narrative as institutional-grade digital property. Every large-scale withdrawal from exchanges strengthens the network's underlying economic security, making the asset scarcer for everyday traders. It's a masterclass in bullish positioning, executed while Wall Street was probably debating the merits of a new bond ETF.

One firm's treasury expansion is another market's supply shock. While traditional portfolios rebalance fractions of a percent, crypto moves in chunks that reshape the landscape overnight. The smart money isn't just watching—it's building its own fortress, one blockchain block at a time.

Bitmine Leads Ethereum Treasuries as Accumulation Accelerates

The current circulation rate of ethereum is estimated at 120.7 million tokens. According to that amount, the world’s largest known Ethereum treasury holder has become Bitmine. The company is general presently with greater ETH than any other corporate or institutional organization. Bitmine is ranked second in the general crypto treasury list, with Strategy Inc., with a bigger number of Bitcoin more than 671,000, holding the second rank.

The accumulation rate has increased manyfold in recent months. Bitmine has announced that it had added 98,852 ETH within the past one week. This urge took the aggregate holdings beyond its four-million-token mark. The company took just five and a half months, after officially implementing their Ethereum based treasury strategy to hit this threshold.

According to Tom Lee, chairman of Fundstrat, the rate of accumulation is a sign of growing institutional interest in having exposure to Ethereum. He referred to Bitmine as a shift of traditional finance into blockchain infrastructure. Some of the areas that Ethereum has been proliferated in are given by Lee as tokenization, decentralized finance, and on-chain settlement. 

BMNR Ranks Among Most Traded U.S. Stocks

Bitmine also highlighted movements in the public equity markets. The company claimed to be among the leaders in the pace of growth in crypto treasury peers, specifically regarding the percentage increase in the crypto net asset value per share. It also cited high liquidity of the stock traded publicly. BMNR has averaged $1.7 billion in daily trading volume over the past five trading days.

This activity ranked BMNR 66th in the list of stocks with the highest trade in the United States. It places Wells Fargo in second position after that of the company. It also ranks BMNR over Chevron in number of listed U.S. equities, which are more than 5,700. Bitmine described the volume of trading as a sign of growing investor interest in Ethereum-based balance sheets.

Besides asset buildup, Ethereum-related infrastructure plans are being established by Bitmine. The company has been working on its Made in America Validator Network that is referred to as MAVAN. It is expected that the secure staking platform will be released at the start of 2026. 

Bitmine will hold its annual meeting of the stockholders on the 15th of January 2026 at the Wynn Las Vegas, whereby the company will take the next step towards its Ethereum plan.