Tom Lee’s Bitmine has increased its Ethereum holdings. The company now has 44,463 more ETH tokens added to its total holdings. The cost of the last purchase is approximately $130 million. This action increased the total ETH in possession of Bitmine to 4.11 million tokens. Also, the company currently holds approximately 3.41% of the total supply of Ethereum.
Can Institutional Accumulation Control Ethereum Supply Circulation?
Bitmine is taking steps to becoming the biggest Ethereum Treasury in the world. The firm affirmed that it has already staked 408,627 ETH. In addition, it has decided to increase its staking action using the MAVAN validator network beginning from 2026.
According to the company, its strategy is about accumulating ETH over the long-term and ensuring optimal yield. The same institutional accumulation strategy was shown by Ethereum treasury firm Trend Research after increasing its ETH holdings.
Tom Lee described Bitmine as the largest fresh money buyer of ETH during recent market weakness. Tom Lee emphasized that year end market conditions created attractive accumulation windows. He noted that seasonal tax loss selling has pressured crypto valuations. He said Bitmine used that period to increase its holdings at scale.
The company says its goal remains the pursuit of what it calls the “alchemy of 5%” That target refers to a long-term objective of owning 5% of the ETH supply.
Source: https://coingape.com/tom-lees-bitmine-buys-130m-eth-as-whales-dominate-supply/
