CoinDesk
Bitmine scooped up 27,180 ETH last week, worth about $68 million at Monday's price near $2,500, extending a streak of weekly accumulation that began in June 2025. The buy brought the Ethereum treasury firm's holdings to 5,956,378 ETH, leaving it roughly 144,000 tokens short of its goal of owning 5% of all ether in circulation.
Why it matters
Tom Lee, Bitmine chairman and Fundstrat founder, is framing the move as part of a broader structural shift. The ETH-BTC ratio climbed to its highest level since Jan. 30 and broke above a downtrend that had been in place since 2022. Lee called the breakout evidence that Ethereum is strengthening its position as the settlement layer for Wall Street tokenization, and flagged an emerging role for ether in managing agentic AI. The persistence of the bid, week after week at a steady cadence, is what makes the thesis investable: a treasury strategy that has not skipped a week in over a year reads closer to programmatic accumulation than a discretionary trade.
Market impact
Lee pointed to three near-term catalysts: the rising ETH-BTC ratio itself, a Senate vote on the Clarity Act scheduled for Tuesday, and renewed crypto buying from Korean investors. With ether's supply at roughly 122 million tokens, Bitmine needs about 144,000 more ETH to reach the 6.1 million mark. The pace of buying suggests it can hit that milestone within weeks if the cadence holds, an outcome that would put a single corporate treasury on the hook for 5% of all ETH in existence. Watch the Senate floor and the ratio for confirmation of the next leg.
Frequently asked questions
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How much ETH does Bitmine hold right now?
Bitmine holds 5,956,378 ETH after buying 27,180 ETH last week at roughly $68 million. The firm needs about 144,000 more ETH to reach its goal of owning 5% of all ether in circulation.
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What is Bitmine's 5% ETH target?
Bitmine is targeting ownership of 5% of Ethereum's roughly 122 million ETH supply, which works out to 6.1 million ETH. Its current stash leaves it about 144,000 tokens short.
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What did Tom Lee say about the ETH-BTC ratio?
Lee said the ETH-BTC ratio climbed to its highest level since Jan. 30 and broke above a 4-year downtrend, calling it evidence that Ethereum is strengthening its position as settlement rails for Wall Street tokenization and an emerging role in managing agentic AI.
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What is the Clarity Act and when does it vote?
The Clarity Act is U.S. crypto market-structure legislation Lee flagged as a near-term catalyst. A Senate vote on the bill is scheduled for Tuesday.
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How long has Bitmine been accumulating ETH?
Bitmine has added ether every week since launching its Ethereum treasury strategy in June 2025, with last week's 27,180 ETH purchase running at roughly the same pace as the prior week.
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