Tom Lee's Bitmine holds 5.2M ETH worth $12B — 90% staked as firm closes in on 5% of total supply!

Fundstrat's Tom Lee added another 26,659 ETH ($61.88M) to Bitmine's treasury last week, bringing total holdings to 5,206,790 ETH — currently valued at $12.08 billion. The firm has staked 4,712,917 ETH ($10.94B), representing 90.51% of its entire position, a commitment that goes well beyond passive accumulation.

Bitmine now controls more than 4.31% of Ethereum's total circulating supply of 120.7 million tokens and is 86% of the way to its self-declared 'Alchemy of 5%' milestone — a threshold it is targeting just 11 months into its accumulation strategy. Total crypto and cash holdings stand at $13.4 billion.

The scale and staking ratio set Bitmine apart from most institutional crypto treasury plays: locking 90% of holdings into validators is a long-duration structural bet on Ethereum's yield and network security, not a trade. For ETH bulls, the continued weekly buying from a…