Bitmine Buys 5,000 More ETH, Now Holds Nearly 5% of Ethereum's Supply

Tom Lee's Bitmine went back to the market. The company bought another 5,000 ETH worth $11.2M, per Cointelegraph, and its pile now sits at 6.065M ETH. That's about 5% of Ethereum's entire supply in a single corporate treasury.

Do the math on the latest buy and it works out to roughly $2,240 per coin. Bitmine didn't just nibble — it kept stacking at size, adding millions of dollars of ether in one go.

The headline number is the hoard itself. Holding 5% of a major network's supply is a rare position for any company, and Bitmine has been building toward it steadily rather than in one dramatic sweep.

Lee, a veteran Wall Street strategist, has been one of the loudest Ethereum bulls around, and Bitmine's balance sheet now reads like a straight expression of that view. Every fresh purchase tightens the company's grip on a supply that gets harder to accumulate quietly at this scale.

The obvious question now: how much more can Bitmine buy before it stops being a buyer and starts being the market? For now, the answer is at least 5,000 ETH longer.