BitMine’s Tom Lee Drops a Bull Market Bombshell
BitMine elevated its Ethereum treasury to six,028,946 ETH final week, lifting its stake to roughly $15.3 billion at present costs.
Chairman Tom Lee says the agency’s Ethereum technique might assist drive the next crypto bull cycle.
BitMine Holds 4.9% of Ethereum’s Total Supply
The firm now holds 6,028,946 ETH, or 4.9% of Ethereum’s 122.1 million token provide, in line with its newest statement.
Of that complete, 5,067,309 ETH, or 84% of its steadiness, is staked by means of its MAVAN platform and companions. The firm initiatives $336 million in annualized staking income, primarily based on a 2.61% seven-day yield.
That determine might attain $400 million as soon as all holdings are staked.
Beyond Ethereum, the corporate stories 214 Bitcoin. It additionally holds a $180 million stake in Beast Industries.
The shopping for program has a outlined endpoint. Tom Lee stated on October 7 that BitMine will halt ETH purchases once it holds 5% of circulating supply.
Lee described the goal as a stopping level for this system, which was initially anticipated to take 5 years. The firm is nearing that degree in roughly a yr, throughout a bear market.
ETH Strongly Outperforms the S&P 500 in Q3
At the time of writing, ETH traded close to $2,517, up 0.67% over 24 hours. Its market capitalization stood close to $308 billion, in line with BeInCrypto data.
Lee famous that ETH outperformed the S&P 500 by 6,832 foundation factors within the third quarter. The acquire got here regardless of macroeconomic tightening, high bond yields, and Federal Reserve policy.
“We imagine that as crypto enters a cycle we anticipate to be a bull market; what’s notable is Bitmine’s share worth outperformance of ETH in the course of the bear market of 2025-2026. In the primary 9 months of 2026, ETH declined 10% whereas BMNR was down by 3%, or outperformance of 731bp,” Tom Lee stated.
Lee argues that digital asset treasuries take away provide from the market. He says that the dynamic favors the following cycle, in contrast with 2019 to 2021, when these treasuries weren’t a issue.
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