BitMine Boosts Ether Holdings to 5.9 Million Amid Bullish Crypto Market
BitMine has continued its buying spree, purchasing an additional 53,501 Ether (ETH) over the past week. This acquisition brings its total holdings to 5,901,112 ETH, which represents approximately 4.9% of the circulating supply.
The company's digital-asset, cash, marketable securities and strategic investment holdings now total $15.6 billion, with its ETH position valued at around $14.8 billion. BitMine has also reached 98% of its goal of accumulating 5% of the total ETH supply.
The company's chairman, Tom Lee, noted that Ether has been the best-performing macro asset in recent times, outperforming the S&P 500 by 5,430 basis points as of last Friday. He attributed this performance to several positive catalysts, including a planned mid-September vote on the Clarity Act and a resumption of crypto buying by South Korean investors.
Lee also predicted that institutional participation in crypto purchases could increase significantly by the end of 2026, driven by tailwinds from tokenization and agentic artificial intelligence. Additionally, he reiterated his view that the ETH/BTC ratio will continue to rise due to Ethereum's expanding utility.