Tom Lee’s BitMine adds 32,977 ETH as total crypto and cash holdings top $14 billion
Tom Lee-chaired Ethereum treasury company BitMine Immersion's holdings have reached 4,143,502 ETH — worth around $13 billion at current prices — following its latest weekly acquisitions.BitMine bought 32,977 ETH since its last update on Dec. 29, reporting its total crypto and cash holdings had reached $14.2 billion on Monday. BitMine did not disclose the average purchase price, but at current prices, its latest acquisition is worth around $104 million.As of Jan. 4, BitMine also holds 192 BTC ($17.8 million), a $25 million stake in WLD treasury firm Eightco, and total cash of $915 million. The company's ETH holdings are equivalent to around 3.43% of Ethereum's current circulating supply, which sits at approximately 120.7 million ETH, according to The Block's price page. Among its holdings, BitMine's total staked Ethereum stands at 659,219 ETH — an increase of 250,592 ETH over the past week.BitMine is the largest Ethereum treasury holder, followed by Joe Lubin's SharpLink and The Ether Machine, with approximately 863,021 ETH and 496,712 ETH, respectively, according to SER data. BitMine is also the second-largest public crypto treasury company overall, behind Michael Saylor's Strategy, which holds 673,783 BTC ($63 billion) — equivalent to more than 3% of bitcoin's total 21 million supply — following Strategy's latest acquisition announcement on Monday.Supported by institutional investors including Ark Invest's Cathie Wood, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, and Galaxy Digital, BitMine targets acquiring 5% of the circulating ETH supply, currently equivalent to around 6.04 million ETH.Ethereum reboundThe acquisition announcement comes after ETH rebounded 7.8% over the past week amid a broader crypto rally as markets digest new year macro conditions."We are excited about the prospects for Ethereum in 2026 given the multiple tailwinds of U.S. government support for crypto, Wall Street embracing stablecoins and tokenization, the rising need for authentication and proof of provenance in an increasingly complex AI world and the rising adoption of crypto among younger generations," Lee said on Monday. "Moreover, the surge in commodity and precious metals in 2025 bodes well for crypto prices in 2026, which tend to follow metal price moves."BitMine has also seen improved performance of late, climbing 14.9% on Friday as Lee asked shareholders to approve a "dramatic" increase in the company's shares. "Currently, BitMine has 500 million shares authorized, and we want to increase this to 50 billion," Lee said at the time.BitMine's stock (BMNR) is trading up 4.2% in early Monday trading at $32.47, according to The Block's BitMine price page.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.