CoinDesk
Bitmine purchased 27,562 ETH worth about $75.2 million at Monday's price of $2,727, lifting its holdings to 5,983,940 ETH. The Ethereum-focused treasury firm now controls about 4.9% of ETH's 122.1 million supply, keeping it close to a 5% ownership target. Chairman Tom Lee said institutional investors remain underweight crypto and expects exposure to rise in the final three months of 2026.
Why it matters
Bitmine has bought ETH every week since shifting to a crypto treasury strategy in June 2025. About 5 million ETH, or roughly 85% of its holdings, is staked, with the company projecting approximately $357 million in annual staking revenue at current yields.
The strategy gives institutions a direct example of how an ETH treasury can combine asset accumulation with staking income. Lee also cited tokenization and blockchain use in artificial intelligence as longer-term reasons for institutions to increase crypto exposure.
Market impact
ETH has risen 76% since the end of June, compared with a 2% gain for the S&P 500. Lee said the performance gap could draw fund managers who favored AI-linked stocks earlier in 2026 into a broader crypto allocation.
Bitmine shares rose 5.8% pre-market after an 8% gain on Friday, while ETH climbed overnight to its highest level since late January. At its recent buying pace, Bitmine could reach its 5% ownership goal within the next couple of months.
Frequently asked questions
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How much ETH did Bitmine buy in its latest purchase?
Bitmine purchased 27,562 ETH, worth about $75.2 million at Monday's price of $2,727.
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How much ETH does Bitmine hold now?
Bitmine holds 5,983,940 ETH, equal to about 4.9% of ETH's 122.1 million total supply.
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What share of Bitmine's ETH is staked?
About 5 million ETH, or roughly 85% of Bitmine's holdings, is staked. The company projects approximately $357 million in annual staking revenue at current yields.
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Why does Tom Lee expect institutions to increase crypto exposure?
Lee said institutions remain underweight crypto after favoring AI-linked stocks earlier in 2026. He also cited ETH's 76% gain since June, tokenization, and blockchain use in artificial intelligence.
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How did Bitmine shares and ETH react to the buying strategy?
Bitmine shares rose 5.8% pre-market after an 8% gain on Friday. ETH climbed overnight to its highest level since late January.
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