Tom Lee's BMNR Nears $13B After Year’s Largest Ethereum Buy – Now Owns 4% Of All ETH

• Bitmine purchased approximately 101,627 ETH over the past week, its largest weekly acquisition this year.
• The company now holds more than 4% of Ethereum’s total supply, marking a significant concentration in the asset.
• Its total balance sheet is approaching $14 billion, including crypto holdings, investments, and cash.

Tom Lee-backed Bitmine Immersion Technologies (BMNR) shares fell in pre-market trade on Monday amid broader weakness in the markets after the company announced it now owns more than 4% of Ethereum’s (ETH) total supply. 

The company acquired around 101,627 ETH in the past week, which marks its largest weekly buy this year. Bitmine’s balance sheet, which includes 4.9 million Ethereum, Bitcoin (BTC), stake in “moonshot” companies and cash, is just $100,000 short of crossing $13 billion. 

“While many believe the crypto winter may last through the Fall of 2026, our view remains that the crypto winter is much closer to ending,” Lee said. He noted that previous downturns since 2015 have coincided with equity market declines of at least 20%. 

According to Lee, the 2025 crypto drawdown aligned with a roughly 20% drop in the S&P 500, while the 2026 equity pullback has been more limited, at around 8%.

BMNR Stock Dips Despite Biggest Ethereum Buy Of The Year

BMNR’s stock fell as much as 3.6% in pre-market trade. On Stocktwits, retail sentiment around the company continued to trend in ‘bullish’ territory, accompanied by ‘extremely high’ levels of chatter.

Meanwhile, Ethereum’s price edged 0.6% lower in the last 24 hours, but held above $2,300. Retail sentiment around the leading altcoin flipped to ‘bearish’ from ‘bullish’ territory over the past day, but chatter stayed at ‘high’ levels. 

Bitmine said it has staked 3,334,637 staked ETH, representing $7.7 billion at Ethereum’s current price.  "Bitmine has staked more ETH than other entities in the world,” said Lee, adding once Bitmine’s ETH is fully staked by the Made in America Validator Networks (MAVAN), he expects the company to generate rewards of $330 million annually. 

BMNR’s stock has fallen over 18% this year, while Ethereum’s price is down more than 20%. 

Read also: BTC Price Dropping Another $3,000 Could Wipe Out All Ceasefire Gains, Analyst Warns

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