BitMine Buys 112K ETH for $237M, Eyes 5% of Total Supply!

BitMine made its largest Ethereum purchase of 2026 last week, adding nearly 112,000 ETH worth approximately $237 million to its treasury. The firm now holds close to 5.4 million ETH — more than 88% of the way toward its stated goal of owning 5% of Ethereum's total circulating supply.

FundStrat's Tom Lee has re-entered the ETH trade alongside this institutional accumulation wave, lending further credibility to the thesis that Ethereum is attracting serious long-term capital at current levels. Lee's public re-entry is notable given his track record of calling major crypto inflection points.

The combination of a single corporate entity approaching 5% supply ownership and a high-profile macro strategist re-buying is a rare confluence of institutional signals.