Key points to remember:
- Tom Lee’s Bitmine acquired 101,627 ETH worth $233 million from Bitgo, its biggest weekly purchase of 2026.
- The purchase brings Bitmine’s total ether holdings to approximately 4.97 million. ETH through his treasure.
- Three newly created wallets received the ETH of Bitgo, in line with Bitmine’s continuous accumulation strategy.
Fresh Wallets, the biggest purchase of the year
Online data shows three newly created wallets receiving 101,627 ether from Bitgo, one of the largest institutional custodians of digital assets in the United States. Onchain analysts linked the wallets to Bitmine, the listed Ethereum treasury company that trades under the ticker BMNR on the New York Stock Exchange.
The purchase is Bitmine’s largest one-week acquisition of Ethereum in 2026 and comes as Ether stabilizes above $2,300 after volatility triggered by the KelpDAO exploit earlier this week.
The use of freshly created wallets is consistent with Bitmine’s approach of separating new acquisitions from its existing holdings, a strategy that simplifies staking on-chain management and audit for institutional observers.
Getting closer to 5% of Ethereum supply
Thursday’s purchase brings Bitmine’s total ether holdings to approximately 4.97 million. ETHputting the company within reach of holding 5% of Ethereum’s entire circulating supply. The company previously staked 61,232 ETH in a move that brought his total staked position to $7.88 billion, with an annualized rate staking a turnover of approximately $212 million with a 7-day return of 2.89%. Around 68% of Bitmine’s stakes are currently staked.
Bitmine moved from the NYSE American to the New York Stock Exchange on April 9, significantly increasing its institutional profile. His average daily dollar volume of $747 million now ranks it 117th among all U.S.-listed stocks, an unusual position for a company whose core business is to hold and staking a single crypto asset.
Tom Lee has touted ether as “the wartime store of value” and has already signaled that crypto’s winter weather could end sooner than markets expect. Thursday’s purchase, the company’s biggest on-chain move of the year, is the clearest expression of that belief. Grayscale recently reported A bull market pattern is forming as Bitcoin holds a critical breakeven point for recent buyers, a signal that multiple institutional players appear to be acting on simultaneously.
