Crypto : Tom Lee propels Bitmine with a massive Ethereum acquisition

The battle for crypto treasuries is no longer just about Bitcoin. Bitmine now pushes its advantage on Ethereum to a rarely seen level, with a new wave of purchases that strengthens both its market weight and its bullish narrative around ETH.

A Week That Changes Scale

Bitmine bought 71,252 ETH in the week ending April 5, 2026. This move brings its reserves to 4,803,334 ETH, making it the largest corporate treasury focused on Ethereum crypto according to the company. At the market level, this is no longer a simple reinforcement. It is a demonstration of strength.

The value of this reserve reaches about 10.3 billion dollars based on the price of 2,123 dollars used by Bitmine in its update. The group now claims to control 3.98% of the total ETH supply, estimated at 120.7 million tokens. The figure stands out because it gives a very concrete idea of the scale of the bet.

Tom Lee also emphasizes this point. According to him, this is the highest weekly buying pace since the week of December 22, 2025. In other words, Bitmine is not accelerating by accident. The company is deliberately increasing the pace at the moment it judges the cycle most favorable.

The Bet on an Organized Scarcity

Behind this strategy, the goal remains clear: to reach 5% of the circulating Ethereum supply. Bitmine already explains it has covered more than 79% of this path in nine months. This mark gives a simple reading of its plan: to accumulate enough ETH to weigh not only by its size but also by its scarcity.

This bet does not rest only on the idea of a future price rise. It also aims to transform a crypto treasury into a yield machine. The more ETH the company holds, the more it can capture revenues linked to staking. The more it stakes, the more it consolidates its role in the Ethereum ecosystem.

Bitmine says it has already staked 3,334,637 ETH, about 7.1 billion dollars at the reference price used in its statement. The company even advances a current annualized revenue of 196 million dollars, with a potential of 282 million if all its ETH holdings end up being widely deployed. At this point, we are no longer talking about a dormant treasure. We are talking about an asset at work.

Tom Lee Pushes the Narrative of a Defensive Ethereum

Tom Lee does not just buy the crypto. He also sells a market interpretation. For him, Ethereum is approaching the end of a “mini-crypto winter.” This phrase is important because it helps justify the aggressive accumulation of recent weeks. It basically says the trough is almost behind us.

He goes even further. In his communication, Lee presents ETH as a kind of “wartime store of value,” highlighting a 6.8% increase since the beginning of the conflict in Iran, surpassing that of the S&P 500 and even gold over the cited period. The phrase is powerful. However, it remains his thesis, not a neutral market verdict.