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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
04/07/2026

Tom Lee's BitMine Accumulates Near 4% of Total Ethereum Supply

Publicly traded Ethereum treasury firm BitMine Immersion Technologies added $150 million worth of ETH last week, bringing its total holdings to $10.

Tom Lee's BitMine Accumulates Near 4% of Total Ethereum Supply

What happened: Publicly traded Ethereum treasury firm BitMine Immersion Technologies added $150 million worth of ETH last week, bringing its total holdings to $10.3 billion. The firm now controls nearly 4% of Ethereum's total circulating supply, representing one of the largest institutional ETH positions on record.

Why it matters: BitMine's aggressive accumulation strategy mirrors MicroStrategy's Bitcoin approach but focuses on Ethereum. This concentration of ETH in institutional hands could reduce circulating supply and increase price volatility, while demonstrating institutional confidence in Ethereum's long-term value proposition beyond just store-of-value narratives.

Source: Decrypt