Tom Lee’s Bitmine Slows Ether Buying for a Second Straight Week, Adding 15,112 ETH

Bitmine Immersion Technologies bought 15,112 ETH in the week through Oct. 4, the Ethereum treasury company said Monday. It was the second straight week of smaller purchases and the lightest week since its Aug. 17 update.

The buying took Bitmine to 6,016,414 ETH as of 6:30 p.m. ET on Oct. 4. At the $2,726 Coinbase price the company used, that stash is worth roughly $16.4 billion. Bitmine counts it as 4.9% of ether’s 122.1 million supply, leaving it about 89,000 ETH short of the 5% target it calls the “Alchemy of 5%.”

“Over the past week, we acquired 15,112 ETH. Bitmine’s track record of consistent buying of crypto is unmatched by any public company in the world,” Chairman Tom Lee said in the release.

With cash and outside investments included, Bitmine put its total holdings at $17.4 billion, up from $17.2 billion a week earlier. The tally also listed 214 bitcoin, a $180 million stake in Beast Industries, $117 million in Eightco Holdings shares and $643 million in cash and marketable securities, down from $672 million.

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Bitmine added 17,362 ETH in the week it passed 6 million tokens, and 53,501 ETH in the update it filed on Aug. 31. Its Aug. 17 update had shown 9,926 ETH added.

Lee said in May that the company would probably ease its pace as it got close to 5%. In Monday’s release, he said Bitmine has bought ether every week since starting its treasury strategy on June 30, 2025.

“In the first 9 months of 2026, ETH declined 10% while BMNR was down by 3%, or outperformance of 731bp,” Lee said. He tied that partly to what he called “the largest ever crypto treasury equity buyback,” saying the company has repurchased 21 million of its shares in 2026.

Bitmine’s staked ether held at 5,067,309 ETH, about 84% of its holdings and the same count it has reported each week since at least mid-August. Lee projected $363 million in annualized staking revenue from that amount at a seven-day yield of 2.63%, and $431 million a year if all of Bitmine’s ether were staked.

Lee is scheduled to give a keynote at Token2049 in Singapore on Oct. 7.

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