Tom Lee's Bitmine now owns 4.8% of Ethereum supply after latest ETH purchase

Bitmine Immersion, the Ethereum treasury company led by Tom Lee, bought 9,926 more ETH last week, lifting its total holdings to 5.815 million ETH worth about $11 billion. The company now controls 4.8% of Ethereum’s total supply, nearing its stated 5% target. Lee framed the purchase as part of a broader bullish thesis for ETH, citing improving ETH/BTC technicals, growing demand from tokenization and AI-agent use cases, and easier financial conditions as supportive for crypto. The article is modestly constructive for Ethereum because it highlights persistent institutional-style accumulation by a large holder, while also noting ETH is already up about 1.6% on the day. Bitmine also bought back additional shares, reinforcing management’s confidence in its own equity and Ethereum exposure.