Tom Lee's Bitmine purchased another 9,926 ETH last week, bringing its holdings to 5.815 million ETH worth about $11 billion:
The company now owns about 4.8% of Ethereum’s total supply, nearing its stated goal of 5%:
Lee expects tokenization, AI-agent applications, and easing financial conditions to support demand for Ethereum and the broader crypto market:
Bitmine, which trades under the ticker BMNR, now holds 4.8% of ETH’s total supply with its tokens worth about $1,904:
Lee noted that the ETH/BTC ratio has broken above a years-long downward trend, which he sees as a sign that investors are starting to price in growing demand for Ethereum:
ETH is up about 1.6% over the past 24 hours while BMNR is trading more than 2% higher today:
The company also bought an additional 1.7 million shares of its own stock last week, now owning 20.8 million shares under a previously authorized $4 billion buyback program:
