Tom Lee’s BitMine Now Holds Over $2 Billion in Ethereum Largest ETH Holder Globally

HKAN | Jul 28

JUST IN: BitMine Becomes World’s Largest Ethereum Holder with $2B+ ETH Holdings

 

Tom Lee’s investment firm, BitMine Immersion Technologies, has amassed over $2 billion worth of Ethereum, making it the single largest ETH holder in the world .

 

BitMine reportedly holds 566,776 ETH, acquired in just 16 days following a $250 million private placement completed on July 8, as part of its asset-light treasury strategy .

 

Driving Toward 5% of ETH Supply

BitMine Chairman Tom Lee confirmed that the firm aims to acquire and stake 5% of Ethereum’s total supply, which would equate to nearly six million ETH, a bold long-term institutional strategy .

 

CEO Jonathan Bates emphasized the use of capital markets, staking yield, and reinvestment strategies to increase ETH held per share, framing volatility as an opportunity rather than a risk .

 

Market Reaction & Industry Significance

BitMine’s aggressive accumulation has sparked a rally in Ethereum’s price, while its NYSE-listed stock saw a double-digit percentage gain in the days following the announcement .

The milestone underscores a growing wave of institutional confidence in Ethereum—not just as a speculative asset, but as a strategic treasury reserve in the broader financial ecosystem .

 

What to Watch Next

Expansion of ETH staking programs and related yield strategies

Tracking any further capital raises to support additional ETH accumulation

Impacts of high concentration on Ethereum’s liquidity, decentralization, and market sentiment

BitMine’s dominance over corporate ETH holdings positions it as a new pillar in Ethereum's institutional adoption story.