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Bitmine buys $236 million in ether as Tom Lee touts ETH as ‘wartime store of value’
The firm has bought more than 5 million in ETH in just 10 months while most digital asset treasury companies have stopped accumulating.
Apr 27, 2026, 1:17 p.m.
What to know:
- Ether treasury firm Bitmine bought 101,901 ETH last week, worth roughly $236 million at current prices, pushing its holdings above 5 million tokens.
- The firm now owns 4.21% of ether’s total supply, extending its lead as the largest known ether treasury.
- It also staked over 3.7 million ETH, generating about $264 million in annualized revenue from yield.
“Bitmine ETH holdings crossed 5 million this past week,” Lee said. “This is a major milestone as the company moves towards acquiring 5% of the ETH supply.”
The latest purchase, worth roughly $236 million at current ETH prices, extends a streak of larger weekly purchases as Bitmine adds to its position while most digital asset treasuries remain on the sidelines.
The firm’s total crypto and cash holdings stand at $13.3 billion. Alongside its ETH position, the firm holds 200 bitcoin , $940 million in cash and equity stakes including investments in Beast Industries and Worldcoin-focused Eightco Holdings.
