Tom Lee's Bitmine is Nearly at 5% of Ethereum

Bitmine Pushes Ethereum Holdings to $16.3 Billion

Bitmine Immersion Technologies ($BMNR) has disclosed that its Ethereum holdings climbed to 5,983,940 $ETH as of September 20, 2026, worth approximately $16.3 billion at prevailing prices. The NYSE-listed company, chaired by Fundstrat co-founder Tom Lee, added another 27,562 ETH since its September 14 update, continuing the firm's unbroken streak of weekly ETH purchases that has run since the treasury strategy launched in June 2025.

Combined crypto, cash, marketable securities, and other investments now total $17.1 billion, according to the company's announcement. Bitmine's ETH holdings remain the largest of any Ethereum treasury worldwide, with its total crypto holdings ranking second among global treasuries, behind Strategy.

The company has framed its long-term objective as reaching 5% ownership, a milestone it calls the "Alchemy of 5%." At 4.9% of circulating supply, it is now on the threshold of that target.

Institutional Backing and Staking Scale

Institutional backers include ARK's Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, and Galaxy Digital. Bitmine was added to the Russell 1000 Large-cap index on June 26, 2026, and its Series A Preferred Stock trades on the NYSE under the symbol BMNP.

A significant portion of the company's ETH is actively deployed through staking. As of September 20, 2026, Bitmine's total staked ETH stood at 5,067,309 tokens, worth approximately $13.6 billion at prevailing prices, with the company claiming to have staked more ETH than any other entity in the world. The firm runs its staking infrastructure through MAVAN (Made in America VAlidator Network), an institutional-grade platform that is expanding beyond Bitmine's own treasury to serve custodians and ecosystem partners.

Tom Lee is also set to deliver the keynote at Korea Blockchain Week 2026 on September 30 in Seoul. On trading volume, $BMNR averaged $1.2 billion in daily dollar volume over the five days through September 18, ranking the stock 100th among 5,704 US-listed stocks, per Fundstrat.

Sources:
PR Newswire: Bitmine ETH Holdings Reach 5.98 Million Tokens, Total Holdings $17.1 Billion
SEC Filing: Bitmine Form 8-K, September 2026