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Tom Lee’s digital asset firm Bitmine has purchased an additional $344 million worth of Ethereum, bringing its total holdings to 908,192 ETH valued at approximately $2.95 billion.
The acquisition, disclosed this week, pushes Bitmine’s stake to 3.43% of Ethereum’s circulating supply and marks another step toward the firm’s stated goal of controlling 5% of all ETH in existence.
The most recent addition follows closely on the heels of another large staking transaction. Just hours earlier, Bitmine confirmed it had staked 19,200 ETH, worth roughly $60.85 million, underscoring the pace at which the Bitmine Ethereum holding continues to expand.
This aggressive accumulation builds on momentum from the final weeks of 2025, when Bitmine acquired 32,977 ETH during a period marked by declining trading volumes and subdued investor sentiment.
“In the final week of 2025, total equity and crypto activity slowed, and yet we acquired 32,977 ETH in the past week,” said Tom Lee, Chairman of Bitmine, in a company press release. “That conviction hasn’t changed as we move into 2026.”
With its latest purchase, Bitmine now controls 3.43% of Ethereum’s circulating supply, a milestone that places the firm among the most influential participants in the ETH ecosystem. Analysts note that few entities have accumulated Ether at this scale without relying on legacy holdings or early-stage allocations.
Bitmine describes itself as the world’s largest “fresh money” buyer of Ethereum—a claim Lee reiterated following the latest disclosure.
“Our analysis shows that Bitmine has continued to accumulate ETH at an accelerated pace versus other Ethereum DATs,” Lee said. “We remain the largest fresh-money buyer of ETH in the world.”
The growing Bitmine Ethereum holding is increasingly seen as a structural factor in ETH supply dynamics, particularly as a substantial portion of the firm’s assets are locked in staking contracts.
Industry analysts say Bitmine’s staking-heavy approach may help reduce short-term selling pressure on Ethereum by removing liquid supply from the market. Since Dec. 26, Bitmine has consistently staked newly acquired ETH, signaling that the Bitmine Ethereum holding is designed for yield generation and long-term exposure rather than short-term trading.
“Large-scale staking from institutional holders like Bitmine can have a meaningful impact on available liquidity,” said one digital asset strategist familiar with Ethereum staking trends. “It effectively tightens supply while reinforcing confidence in Ethereum’s long-term security model.”
Ethereum staking yields fluctuate based on network participation, but the strategy allows Bitmine to earn native rewards while maintaining exposure to ETH price movements.
While Ethereum remains the centerpiece, the Bitmine Ethereum holding is part of a broader digital asset treasury. As of Jan. 4, Bitmine also reported holding 192 Bitcoin, valued at approximately $17.3 million, along with a $25 million strategic stake in Worldcoin-linked treasury firm Eightco.
In addition, the company disclosed total cash reserves of $915 million, providing ample dry powder to continue accumulating digital assets during market pullbacks.
This balance sheet strength gives Bitmine flexibility to scale its Ethereum strategy further—an option Lee has openly discussed.
Bitmine has made no secret of its ambitions. The firm is targeting ownership of 5% of Ethereum’s circulating supply, a level that would translate to roughly 6.04 million ETH at current issuance levels.
If achieved, the Bitmine Ethereum holding would represent one of the most concentrated institutional positions in the asset’s history, rivaling early exchange treasuries and foundation-controlled wallets.
Lee has framed this goal as part of a broader macro thesis on digital assets.
“Crypto assets tend to track precious metals over longer cycles,” Lee has said previously, adding that he sees 2026 as a potentially pivotal year for digital assets as monetary conditions evolve.
The scale of the Bitmine Ethereum holding has not gone unnoticed by market participants. Some traders view Bitmine’s steady accumulation as a bullish signal, particularly during periods of weak price action.
Others caution that such concentration could amplify volatility if market conditions change or if regulatory scrutiny increases around large staking operators. However, Bitmine’s transparent disclosures and long-term framing have so far helped ease those concerns.
From a market structure perspective, Bitmine’s strategy aligns with a growing trend among institutional allocators who favor yield-bearing crypto positions over passive holdings.
As Ethereum continues to mature, entities like Bitmine are reshaping the asset’s ownership profile. The Bitmine Ethereum holding is no longer just a headline figure—it is becoming a meaningful variable in discussions around supply, staking participation, and institutional confidence.
Whether Bitmine reaches its 5% target remains to be seen, but the firm’s latest $344 million ETH addition signals that its accumulation phase is far from over. For now, all eyes remain on how the expanding Bitmine Ethereum holding influences Ethereum’s market dynamics in the months ahead.
