Bitmine holds 5,901,112 Ethereum, accounting for 4.9% of total supply

Bitmine Chairman Tom Lee recently stated that Ethereum (ETH) is more like "digital land" rather than cash. Lee believes that the core value of high-quality assets lies in their ability to store value, meaning that investors trust these assets to reliably hold and allocate capital over the long term. Lee pointed out that stocks can serve as store-of-value assets because investors expect companies to effectively manage capital when they purchase shares; real estate serves both as a store of value and as a source of cash flow, as income can be generated through rentals. Within this framework, he considers Ethereum to be closer to the stock market or land, with its long-term value mainly derived from the network itself as foundational infrastructure. Bitmine has increased its holdings for 65 consecutive weeks. As of August 30, 2026, its total Ethereum holdings reached 5,901,112, accounting for approximately 4.9% of Ethereum's total supply.