Tom Lee's BitMine ether holdings rise to 5.77 million tokens, or 4.8% of total supply
CoinDesk 2026-07-13 14:04:01
Context: BitMine, a company led by Chairman Tom Lee, has significantly expanded its Ethereum treasury, now holding 5.77 million ether tokens, which accounts for approximately 4.8% of the total circulating supply of Ethereum. This move comes as the company highlights the growing utility of Ethereum, particularly with the rapid growth of Robinhood Chain, a layer-2 network built on Arbitrum technology. The expansion of BitMine's Ethereum holdings is part of its broader strategy to diversify its investments.
Key Facts
- BitMine's Ethereum treasury now holds 5.77 million ether (ETH) tokens, representing about 4.8% of Ethereum's circulating supply of 120.7 million tokens.
- Nearly five million of BitMine's ETH holdings are staked, allowing the company to earn staking rewards while maintaining one of the largest corporate Ethereum treasuries.
- Beyond ether, BitMine's balance sheet includes 206 bitcoin, a $180 million stake in Beast Industries, a $69 million stake in Eightco Holdings (ORBS), and about $482 million in cash and marketable securities.
- Robinhood Chain, a layer-2 network built with Arbitrum technology, has seen dollar volumes exceed $1 billion since its launch on July 1, surpassing all other decentralized exchanges (DEX) in trading volume.
- BitMine's stock (BMNR) was down 3% on Monday, while Ethereum's price slipped 2% over the past 24 hours to $1,769.