Bitmine buys 27,562 ETH, bringing its holdings to over 4.9% of Ethereum supply as Tom Lee calls a crypto bull market

Bitmine's latest weekly purchase of 27,562 ETH brings its holdings to 5,983,940 ETH, worth about $16.3 billion, or over 4.9% of Ethereum's circulating supply of roughly 122.1 million ETH — 98% of its 5% target. Total crypto, cash, and other investments stand at $17.1 billion. Chair Tom Lee said a crypto bull market began in late June, driven by rotation from AI, tokenization and AI fundamentals, and the end of the 4-year cycle. Bitmine has staked 5.07 million ETH ($13.8 billion), with projected annualized staking revenues of $357 million. It trails only Strategy's 846,000 BTC among public crypto treasury companies.

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