Tom Lee's Bitmine adds 44,463 ETH and starts staking as treasury tops 3.4% of supply

Bitmine Immersion Technologies (ticker BMNR) added another 44,463 ETH over the past week, pushing its total ether holdings to roughly 3.41% of the asset’s circulating supply, according to a company disclosure on Monday.

The accumulation follows Bitmine’s announcement last week that it had crossed the 4 million ETH mark, as the firm continues an aggressive buying strategy aimed at ultimately acquiring 5% of the Ethereum network's total supply.

At current ether prices, Bitmine’s token treasury is valued at just over $12 billion, with total crypto and cash holdings reaching $13.2 billion, the company said. Its balance sheet includes 4,110,525 ETH, 192 bitcoin, and $1 billion in cash as of Dec. 28.

Chairman Tom Lee said Bitmine used year-end market softness to continue accumulating ETH, describing the firm as the largest “fresh money” buyer of ether over the past week amid tax-loss–related selling.

Bitmine has also begun staking a portion of its holdings, with more than 408,000 ETH currently staked as it works toward launching its Made in America Validator Network in early 2026.

BMNR shares were recently trading around $28.50, down nearly 13% over the past week, while ether was changing hands near $2,950.

Bitminer (BMNR) stock price chart. Source: The Block/TradingView