Tom Lee, chairman of Bitmine, says Ethereum (ETH) is “digital land,” not cash. His point is simple: its appeal is tied to storing value. In a recent statement, Lee said the real value in high-quality assets comes from their ability to hold value over time, which means investors trust that the asset can reliably preserve and allocate capital for the long haul.
Lee said stocks can work as store-of-value assets because investors expect companies to handle capital well. Real estate, he said, has both store-of-value and cash-flow traits because of rental income. So in that setup, Lee views Ethereum as closer to equities or land, with its long-term value coming mainly from the network itself as base infrastructure.
Bitmine has been buying Ethereum every week for 65 straight weeks. As of August 30, 2026, its total ETH holdings stood at 5,901,112 tokens, equal to about 4.9% of the total Ethereum supply.