Bitmine Adds 44,463 ETH to its Holdings in Push to 5% Target

Bitmine, the crypto firm backed by market strategist Tom Lee, has pushed deeper into Ethereum (ETH) with a bold new purchase. The company added 44,463 ETH at a cost of about $130 million, lifting its total holdings to roughly 4.11 million ETH. 

This move places Bitmine among the top ETH holders in the world and moves the firm closer to its stated goal of building the largest Ethereum treasury.

Bitmine Increases Ethereum Holdings During Market Dip

Bitmine made its latest purchase during a period of market pressure. The company said year-end market conditions created a rare chance to buy in large amounts. Bitmine used the price dip from tax-loss selling to increase its holdings.

Tom Lee said the firm was the biggest new buyer of ETH during the market dip. The purchase gives Bitmine control of about 3.41% of Ethereum’s total supply, a level few institutions can match.

Bitmine does not plan to simply hold its ETH. The firm has staked 408,627 ETH to earn yield and support the network. It plans to expand its stake in 2026, focusing on long-term growth and steady returns.

This approach mirrors the actions of other institutional players. This includes Ethereum treasury firm Trend Research, which has also increased its ETH exposure.

Bitmine Pushes Long-Term Ethereum Strategy Despite Mixed Views

Bitmine is chasing what it calls the “alchemy of 5%,” a long-term plan to own 5% of all ETH. The company says steady buying, staking, and patience will help it reach this goal.

To back this plan, Bitmine shared a new balance sheet showing about $13.2 billion in crypto and cash. This includes 192 Bitcoin and other assets, along with its growing Ethereum holdings.

Bitmine said its latest buy was driven by discipline, not hype. Fundstrat also says big institutions are leading crypto buying, with stronger performance expected in early 2026.

Data on the blockchain shows that large holders now own most of Ethereum’s supply. Small investors are holding less, while big players keep buying, which tightens supply but still raises concerns.

Ethereum Holds Steady Despite Market Swings

Still, not everyone agrees with Bitmine’s strong focus on Ethereum. BitMEX co-founder Arthur Hayes recently said he plans to sell his ETH and move into decentralized finance (DeFi) assets. He believes DeFi tokens will outperform Ethereum during periods of high risk appetite.

Ethereum has stayed fairly stable despite short-term price moves. At the time of writing, Ethereum is trading at around $2,935, down by 0.43% in the last 24 hours, according to CoinMarketCap data. 

This suggests that long-term buying from firms like Bitmine is helping absorb selling pressure and support the price.