CoinDesk
Bitmine bought another 12,532 ETH worth about $32 million last week, lifting its holdings to 6,028,946 ETH, valued at roughly $15.3 billion. The ether treasury company now controls about 4.9% of ETH’s 122.1 million token supply, leaving it around 76,000 ETH short of its 5% target. Chairman Tom Lee said Bitmine will stop accumulating once it reaches that level.
Why it matters
Lee sees a potential $1.5 trillion to $2 trillion wealth transfer from 2026 through 2028, based on estimates from the IRS and Fundstrat. He argues that younger heirs could direct more of that capital toward digital assets and equities, supporting crypto demand. Lee said the wealth transfer could help fuel the next crypto bull market, though the share that reaches digital assets remains uncertain.
His broader thesis also includes Wall Street’s use of blockchain to represent financial assets, growing AI applications and crypto treasury companies holding tokens for the long term. The argument links demographic change with institutional infrastructure, rather than relying only on short-term trading demand.
Market impact
Bitmine’s buying pace puts the 5% threshold within reach in roughly six weeks, based on last week’s accumulation. The company has bought ETH every week since adopting its ether-focused strategy in June 2025, but Lee’s commitment to stop at 5% establishes a defined limit for this source of demand.
Bitmine has staked about 5.07 million ETH, or 84% of its holdings, and projects roughly $336 million in annualized staking revenue at current yields. The strategy therefore combines a large ETH treasury position with recurring staking income, while making the company’s balance sheet increasingly sensitive to ETH market performance and the pace of future institutional adoption.
Frequently asked questions
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How much ETH does Bitmine hold after its latest purchase?
Bitmine holds 6,028,946 ETH after buying another 12,532 ETH last week. Its holdings are valued at roughly $15.3 billion.
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How close is Bitmine to owning 5% of ETH’s supply?
Bitmine owns about 4.9% of ETH’s 122.1 million token supply and is around 76,000 ETH short of its 5% target.
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When does Bitmine plan to stop buying ETH?
Tom Lee said Bitmine will stop accumulating ETH after reaching its goal of owning 5% of the token’s supply.
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What wealth transfer does Tom Lee expect to support crypto demand?
Lee points to a potential $1.5 trillion to $2 trillion wealth transfer between 2026 and 2028. He expects younger heirs could direct more of that capital toward crypto and equities.
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How much of Bitmine’s ETH holdings are staked?
Bitmine has staked about 5.07 million ETH, equal to 84% of its holdings. The company projects roughly $336 million in annualized staking revenue at current yields.
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