Tom Lee’s BitMine Buys 53,501 Ethereum, Holdings Hit 5.9M
BitMine Immersion Technologies just bought more Ethereum. The company said it picked up 53,501 ETH over the past week, taking its total holdings to 5,901,112 ETH.
That's about 4.9% of all the Ethereum that exists. Ethereum's total supply sits around 120.7 million tokens, so BitMine now owns a meaningful slice of it.
What Happened With BitMine's Ethereum Holdings?
BitMine, which trades on Nasdaq under the ticker BMNR, shared its latest numbers on August 30 and 31, 2026. The company said its total crypto and cash position, including a couple of side investments it calls "moonshots," now adds up to $15.6 billion.
Here's the breakdown. BitMine holds 5,901,112 ETH, priced at $2,511 per coin based on Coinbase data at the time of the report. It also holds 211 Bitcoin, a $180 million stake in Beast Industries, and an $81 million stake in Eightco Holdings, which trades under the ticker ORBS. On top of that, the company has $541 million sitting in cash and other securities.
Tom Lee, BitMine's Chairman and the head of Fundstrat, said the company hasn't missed a week. It has bought ETH every single week since starting its Ethereum treasury plan on June 30, 2025. That's 65 weeks in a row.
How Much ETH Has BitMine Staked?
Out of its total holdings, BitMine has staked 5,067,309 ETH. That's around 86% of everything it owns, worth close to $12.7 billion at current prices.
Lee said this makes BitMine the biggest ETH staker anywhere, bigger than any other company or entity. Some of that staked ETH runs through MAVAN, a staking platform BitMine launched earlier this year to handle its Ethereum at scale.
The company's staking brought in a 7-day yield of 2.63%, annualized. Based on that number, BitMine is now earning about $335 million a year just from staking.
Lee said that number could climb to around $390 million a year once more of the company's ETH gets fully deployed through MAVAN and its partners.
How Is BitMine's Stock Performing?
BitMine's trading activity has been picking up too. According to Fundstrat data cited by the company, BMNR's average daily trading volume hit $1.36 billion over the five days ending August 29, 2026.
That puts BMNR at roughly the 62nd most-traded stock in the US, just behind Texas Instruments and just ahead of UnitedHealth Group by dollar volume. Following the update, BMNR stock was trading near $23.97, up about 0.71% on the day.
It's worth noting BitMine leads the pack specifically in Ethereum treasury size. When you look at digital asset treasuries overall, though, Michael Saylor's company Strategy still holds the top spot, mostly because of its much larger Bitcoin position.
How Did Ethereum's Price React?
While BitMine kept buying, Ethereum's price didn't move much. Trader Ted Pillows pointed out that ETH tried to push above the $2,550 level again but couldn't hold there.
He said he expects more sideways movement in the short term, possibly with a small pullback before things turn around.
Separately, ETH was seen trading in the $2,450 to $2,465 range, sitting between its 50-week average price lines, one near $2,374 and another near $2,542. That kind of setup usually means the price is stuck in a holding pattern rather than trending clearly.
This is trader opinion and technical reading, not a confirmed fact, so it should be treated as one view among many rather than a certainty.
Background on BitMine's ETH Strategy
BitMine hasn't slowed down since it started this strategy in mid-2025. Some weeks it bought under 10,000 ETH, other weeks over 100,000 ETH, depending on how the market looked.
Its staked ETH total has grown just as fast. Back in late December 2024, BitMine had 408,627 ETH staked. Fast forward to August 2026, and that number is now past 5 million. It shows the company has been just as focused on staking its ETH as it has been on buying more of it.
What This Could Mean for the Crypto Market
Lee laid out a few things he thinks could shape crypto markets over the next few months. He pointed to a CLARITY Act vote coming up in mid-September, renewed buying from Korean investors who appear to be shifting money away from AI stocks, and his belief that the crypto market's usual four-year cycle may be close to bottoming out.
He also expects more big institutional money to flow into crypto before the end of 2026, driven partly by growing interest in tokenization and AI-related crypto projects.
These are Lee's own predictions and opinions, not confirmed events, so readers should treat them as one analyst's outlook rather than a sure thing.
Lee also said Ethereum has been the best-performing major asset so far this quarter, beating the S&P 500 by a wide margin. He named ETH, Bitcoin, and Solana as the three best performers since late June.
What Should Traders Watch Next?
A few things are worth keeping an eye on. The CLARITY Act vote in mid-September could move markets either way. BitMine's weekly buying and staking updates are also worth tracking, since they've become a regular signal for institutional demand.
On the price side, traders will likely keep watching whether ETH can finally close above that $2,550 resistance zone, or whether it slips toward the lower support levels analysts have flagged.
Conclusion
BitMine keeps adding to its Ethereum stack week after week, and its latest buy pushes total holdings close to 5.9 million ETH. The company remains one of the biggest corporate holders and stakers of ETH in the world, and its Chairman sounds optimistic about what's ahead.
At the same time, Ethereum's actual price has stayed range-bound, with traders split on where it goes next. Between BitMine's steady buying and the ongoing price tug-of-war, this is a story worth watching closely in the weeks ahead.
Financial Risk Disclaimer
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are highly volatile and carry significant risk. Readers should conduct their own research and consult a licensed financial advisor before making investment decisions.
