Bitmine Expands ETH Hoard as Tom Lee Declares Bull Run Underway
Bitmine Immersion Technologies added 27,562 ETH to lift its holdings to 5,983,940 ETH (~$16.1B), about 4.9% of supply and 98% toward its “Alchemy of 5%” goal, with total assets near $17.1B including cash and stakes. Tom Lee says a crypto bull market has been underway since late June and expects underweight institutions to increase exposure in Q4, highlighting Ethereum as this quarter’s top macro asset. Bitmine continues a weekly ETH buying spree and stakes roughly 85% of its ETH (over 5M) via MAVAN for projected $357M in annualized revenue, maintaining its status as the world’s largest ETH treasury and a major crypto holder behind Strategy.
