Tom Lee’s Bitmine Stakes Another $278M in ETH After Fresh Purchase

Key highlights:

  • Bitmine staked 150,120 ETH after its new buy
  • The company now has at least 5 million ETH locked in staking
  • Bitmine controls 4.8% of Ethereum’s circulating supply

Bitmine has expanded its Ethereum strategy again after staking ETH worth around $278 million. The move pushed its total staked Ethereum holdings to over 5 million ETH. It also came right after the firm made an ETH purchase worth $19 million.

The company currently holds about 5.8 million ETH in total. That is 4.8% of Ethereum’s circulating supply. Bitmine has repeatedly said it aims to own 5% of all ETH in the market. The firm is now 0.2% away from reaching that goal.

Bitmine moves closer to its 5% Ethereum goal

According to Lookonchain, the company staked a total of 150,120 ETH. Its total staked holdings now stand at 5,067,309 ETH. This is 87.4% of its total Ethereum holdings.

Meanwhile, the company shared in a press release that its Ethereum tokens are now at 5,797,813 ETH. These tokens are worth $10.9 billion based on an ETH price of $1,880. BMNR also highlighted that it has now topped 96% of its “Alchemy of 5%” strategy.

Its staking operations are managed through the company’s MAVAN platform, short for Made in America Validator Network. The company is looking to generate $247 million in annual staking revenue by staking most of its holdings.

Tom Lee has repeatedly called ETH one of the most important blockchain networks for the future of finance. Through its stock, the company offers traditional investors exposure to Ethereum without needing them to manage crypto wallets or stake themselves.

Tom Lee stays confident in ETH

Lee shared that the altcoin outperformed the Nasdaq 100 by 2,500 basis points. He said this was the coin’s best monthly outperformance since July 2025 when compared to the technology index.

The chairman noted that after this happened in July 2025, the coin jumped from $2,375 to over $4,000 by the end of the following month. Lee said this trend means fundamentals may be starting to improve in the crypto market.

Notably, Bitmine bought back 4.5 million of its shares in the past week. That brought the total share repurchases since July 1 to 16.1 million shares under its previously approved $4 billion buyback program.

In addition to Ethereum, Bitmine also holds 209 Bitcoin. Other assets in its portfolio include a $180 million investment in Beast Industries, a $61 million stake in Eightco Holdings, and $173 million in cash and marketable securities.  All assets put together are valued at $11.3 billion.

The update comes after Strategy said it made another sale of 1,638 BTC worth $105 million. Strategy also raised $290 million through common stock sales while buying back $81.2 million of its preferred shares.

Source:: Tom Lee's Bitmine Stakes Another $278M in ETH After Fresh Purchase

Updated: August 4, 2026 at 9:38 am
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