BitMine Owns Over 4% of ETH’s Total Supply After Latest Purchase: Details

The firm’s stash has neared 4.9 million tokens.

BitMine Immersion Technologies has announced its latest Ethereum purchase, which has raised its total holdings to 4.875 million tokens.

Its entire stash, which includes a bitcoin position, total cash, and ‘moonshots’ holdings, is now worth $11.8 billion.

Tom Lee, the company’s Chairman and Ethereum champion, continues to praise the underlying asset despite its substantial correction since the 2025 all-time high. He believes ETH has performed impressively over the past month and a half, following the outbreak of the war in Iran.

“The Iran war enters its 7th week, and this war remains the most important driver of global markets. ETH is now the best-performing asset since the start of the war, with a 17.4% gain and outperforming the S&P 500 by 1,830 basis points. And we believe ETH beating gold by 2,743 basis points demonstrates ETH is the wartime store of value,” he said.

According to Lee, the Ethereum ecosystem continues to benefit from the “dual tailwinds of Wall Street tokenizing on the blockchain and from agentic AI systems increasingly needing public and neutral blockchains.”

Consequently, the company he chairs has continued to accumulate ETH tokens at an “increased pace” for the past month, since they still believe the asset is in the “final stages of the ‘mini-crypto winter.’ ”

The latest accumulation of 71,524 ETH is the most significant one since mid-December, Lee explained. With it, the firm now owns more than 4% of the total Ethereum token supply.