Bitmine Fuels Crypto Spring with Record ETH Purchases

Tom Lee, chairman of Bitmine and chief investment officer at Fundstrat, has declared that a new 'crypto spring' is underway. According to him, this is fueled by structural drivers such as Wall Street tokenization and agentic AI systems.

Bitmine recently purchased 26,659 Ether (ETH) for approximately $63 million, bringing its total treasury holdings above 5.2 million tokens. This represents about 4.31% of the circulating supply of ETH.

The firm's total crypto and cash holdings now stand at $13.4 billion, including 201 Bitcoin (BTC) and $775 million in cash.

Lee pointed out that Bitmine has staked over 4.7 million ETH, worth roughly $11.1 billion, which is more than 90% of its holdings. He projects annualized staking rewards of $352 million once the full position is staked.