BitMine Chairman Tom Lee Confirms Ethereum Has Bottomed for the Year and Expands ETH Holdings
BitMine Immersion Technologies chairman Tom Lee stated that Ethereum has bottomed for the year and is aggressively increasing its holdings of ETH. Last week, BitMine added approximately 138,452 ETH, valued at roughly $460 million, marking its largest weekly purchase since acquiring over 200,000 ETH in October. Currently, BitMine holds about 3.864 million ETH, representing approximately 3.2% of the circulating supply, making it the largest publicly traded Ethereum treasury and the second-largest cryptocurrency treasury overall with $12.85 billion in ETH.
BitMine's Ethereum treasury is second only to the Bitcoin treasury Strategy, which holds over $61 billion in BTC. Apart from ETH, BitMine also holds 193 BTC (around $18 million) and $1 billion in cash. At present, the price of ETH is around $3,376, having risen about 8% over the past week, while BTC remains flat at approximately $92,248. BitMine aims to acquire 5% of the circulating ETH supply as part of its strategic objectives.
Tom Lee emphasized Ethereum's robust outlook over the next 10 to 15 years, highlighting advantages such as growing Wall Street adoption and tokenization, which favor Ethereum over Bitcoin as a smart contract platform. Executives at BlackRock, including CEO Larry Fink and COO Rob Goldstein, have described tokenization as the next major evolution in market infrastructure. Ethereum currently hosts about $12.1 billion in tokenized real-world assets (through RWA.xyz), accounting for nearly 66% of the distributed asset share.
The article positions Ethereum as central to the future of finance and tokenization, with BitMine serving as a major treasury holder and investor in this ecosystem.
