On-chain data reveals that Bitmine, the Ethereum treasury firm led by Fundstrat founder Tom Lee, has added 101,627 ether worth approximately $233 million to its holdings via Bitgo, marking its largest single-week Ethereum acquisition of 2026. The funds were transferred to three newly created wallets, consistent with Bitmine's strategy of separating new acquisitions from existing holdings to simplify staking management and on-chain auditing for institutional observers.
Biggest Weekly Buy of the Year
Blockchain analysts have linked the three fresh wallets to Bitmine, the listed Ethereum treasury company trading under the ticker BMNR on the New York Stock Exchange. The purchase comes as ether stabilizes above $2,300 following volatility triggered by the KelpDAO exploit earlier this week. The use of newly created wallets is a standard practice for Bitmine, enabling clearer tracking of individual acquisition tranches and improving staking yield optimization.
Closing in on 5% of Ethereum's Supply
After Thursday's acquisition, Bitmine's total ether holdings stand at approximately 4.97 million ETH, placing the firm within striking distance of holding 5% of Ethereum's entire circulating supply. The company previously staked 61,232 ETH, bringing its total staked position to $7.88 billion, with annualized staking revenue of approximately $212 million at a 7-day yield of 2.89%. Currently, about 68% of Bitmine's holdings are staked.
Bitmine was uplisted from NYSE American to the New York Stock Exchange on April 9, significantly raising its institutional profile. Its average daily dollar volume of $747 million ranks 117th among all US-listed equities, an unusual position for a company whose core business is holding and staking a single crypto asset.
Tom Lee's Conviction and Broader Market Signals
Tom Lee has framed ether as “the wartime store of value” and has previously signaled that crypto winter conditions could end sooner than markets expect. Thursday's purchase, the firm's largest on-chain move of the year, is the clearest expression yet of that conviction. Grayscale recently flagged a bull market setup forming as bitcoin holds a critical breakeven level for recent buyers, a signal that several institutional players appear to be acting on simultaneously.