Tom Lee’s Bitmine Accumulates 65K ETH in 24 Hours

• Bitmine buys 65,000 ETH in 24 hours as acquisition pace accelerates.
• Firm stakes 3.5M ETH, reaching about 70% of holdings in the yield strategy.
• Total ETH holdings may hit 5.08M, giving Bitmine over 4% supply share.

Tom Lee’s crypto firm, Bitmine Immersion Technologies, has increased its Ethereum exposure through a series of short-term purchases and staking, according to on-chain data and company disclosures.

Over a 24-hour period, the firm accumulated roughly 65,000 ETH valued at about $147 million, with a portion of the transactions routed through institutional platforms FalconX and BitGo. The activity, flagged by Lookonchain, shows an accelerated acquisition pace that aligns with the firm’s recent treasury strategy centered on Ethereum.

Accelerated Buying Activity and Market Position

Data indicates that Bitmine first acquired 45,000 ETH valued at nearly $103.5 million, followed by a purchase of 20,000 ETH worth approximately $44.8 million within hours. Together, these transactions marked one of the firm’s largest short-term accumulation phases this year.

The purchases follow a pattern observed over the past three weeks, where weekly acquisitions ranged between 45,000 and 50,000 ETH before increasing to over 65,000 ETH in the latest cycle. Chairman Tom Lee stated that the firm has maintained a higher acquisition pace as part of its internal outlook on current market conditions.

Staking Expansion and Treasury Allocation

Alongside its buying activity, Bitmine has continued to allocate a large portion of its holdings to staking. Recent on-chain movements show that approximately 75,600 ETH was transferred to Coinbase Prime for staking, following an earlier transfer of more than 61,200 ETH.

According to blockchain data from Arkham Intelligence, the firm has now staked about 3.8 million ETH, valued at roughly $8.8 billion. This represents approximately 70.1% of its total Ethereum holdings. Additional wallet activity shows that up to 100,000 ETH may have been received in addresses linked to Bitmine prior to the latest staking transactions, though these transfers have not been formally confirmed by the company.

If these figures hold, Bitmine’s total Ethereum holdings could reach about 5.08 million ETH, placing it ahead of its closest peer, SharpLink, which holds approximately 868,699 ETH. This would give Bitmine control of more than 4.1% of Ethereum’s total circulating supply.

Stock Performance Displays Intraday Volatility

Shares of Bitmine Immersion Technologies (BMNR) closed at $20.66 on April 29, down 3.82% for the session. Intraday trading saw the stock open above $21.00 before declining steadily to the $20.40–$20.50 range by midday.

The stock later stabilized and recovered, approaching $20.70 before encountering resistance. After-hours trading showed a slight increase to $20.69, marking a 0.15% gain.

Related: BitMine Tops 5M ETH as 2026 Buying Spree Accelerates