Tom Lee's Bitmine Buys $14M in Ethereum as Money Falls to $104M – Decrypt

Ethereum treasury firm Bitmine Immersion Applied sciences mentioned Monday it purchased 7,391 ETH over the previous week, value about $14 million, taking its holdings to five,805,238 ETH as of Friday night. The corporate purchased 10,399 ETH the week earlier than.

Complete crypto, money and what the agency calls “moonshot” investments got here to $11.6 billion, up from $11.3 billion. Most of that acquire got here from value, with ETH up 2.6% over the week to $1,928, including round $280 million to the worth of a stack that grew by $14 million in purchases.

The agency’s money place continues to skinny, with money and marketable securities standing at $104 million, down from the $173 million it reported every week earlier and $482 million the corporate reported for July 12—a decline of 78% in a month. Alongside the ETH, Bitmine holds 209 Bitcoin, a $180 million stake in Beast Industries and $69 million of Eightco Holdings.

Bitmine repurchased 3 million shares over the week, down from 4.5 million, bringing the overall to 19.1 million since July 1 underneath a $4 billion authorization. Chairman Tom Lee mentioned the corporate “continues to view Bitmine’s frequent shares as undervalued,” and referred to as this system the biggest executed by any crypto treasury firm.

Staking now covers 5,067,309 ETH, or 87% of holdings, up from 85% every week earlier. Lee put projected annualized staking income at $257 million, primarily based on a seven-day yield of two.63%.

The final 4%

Bitmine’s stack is 4.8% of Ethereum’s 120.7 million provide, and the corporate once more described itself as 96% of the best way to its “Alchemy of 5%” goal, the identical determine it gave every week in the past and the fifth straight week at 4.8%. Reaching 5% would take about 229,800 extra ETH, or roughly 31 weeks ultimately week’s fee.

The agency has purchased ETH each week since beginning the technique on June 30, 2025. It picked up $214 million value in June throughout a selloff Lee referred to as “superficial,” added $49 million in July on early demand for Robinhood Chain, then eased off later that month earlier than passing 5.79 million ETH.

Lee mentioned he was “dissatisfied” the Readability Act wouldn’t attain a Senate vote earlier than the August recess, however pointed to softer inflation and jobs information, placing the percentages of a September Federal Reserve hike at 40%, down from 75% a fortnight in the past. These odds have since risen to 46%, in line with CME FedWatch.