BitMine Is About to Own 5% of Ethereum, Tom Lee Reveals What Comes Next

BitMine Immersion Technologies owns 5,847,611 ether. That is 4.79% of every ether in existence, and a tighter grip on Ethereum than Michael Saylor has ever held on Bitcoin.

Chairman Tom Lee told the Bankless podcast the company could reach its 5% goal before the end of 2026. The math is harder than it looks.

BitMine Built Its Ethereum Stack in 14 Months

Saylor's firm, MicroStrategy, took six years to gather 840,447 Bitcoin. That comes to 4.19% of the coins in circulation.

BitMine passed that share of ether in 14 months. It made its first purchase on June 30, 2025, and has bought every week since. Sixty weeks, no gaps.

Lee credits a plain balance sheet. BitMine paid for the stack with common stock, not loans or convertible notes. Several rival treasuries leaned on those tools and did not survive the downturn.

Ether traded near $2,480 on Monday, up 1% on the day. It rose about 30% last week, its best week since May 2025. BitMine used the rally for its largest weekly ETH purchase since early July.

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