BitMine Keeps Buying ETH — and It's Closing In on 5% of the Supply
Oct 20, 2026
Tom Lee's BitMine added more ether to its treasury again this week, pushing it closer to owning one in every twenty ETH in existence.
Another Week, Another Buy
If you've been tracking Ethereum treasury companies, BitMine's name probably feels familiar by now. The Tom Lee-chaired firm scooped up roughly 12,535 more ETH this week, according to onchain trackers, continuing a buying streak that's barely slowed down all year.
That purchase pushes BitMine further toward a goal it's been chasing for months: owning about 5% of all the ETH that will ever exist. The company already holds more than 3% of the supply, making it the single largest corporate holder of ether anywhere.
Why Keep Buying
Lee has pointed to upcoming network upgrades and the Fed easing up on quantitative tightening as reasons to stay aggressive. Basically: cheaper money plus a healthier Ethereum roadmap equals a good excuse to keep stacking.
Whether that bet pays off depends a lot on where ETH's price goes from here, but for now, BitMine shows zero signs of slowing its accumulation game.