Tom Lee’s BitMine Buys 20,000 ETH Worth $35.8M From FalconX

Highlights:

• Tom Lee’s BitMine has added 20,000 ETH to its massive Ethereum treasury.
• The company’s consistent accumulation is aimed at owning 5% of Ethereum’s circulating supply.
• Tom Lee confirms that BitMine will increase its rate of ETH purchase despite the asset’s recent price declines.

Tom Lee’s BitMine Immersion Technologies has added another 20,000 Ethereum (ETH) tokens worth $35.85 million to its growing Ethereum strategy. On-chain crypto transactions tracker Lookonchain reported the purchase in an X post on Wednesday, stating that the company acquired the tokens from FalconX, an institutional-focused digital asset prime brokerage.

Advertisement

Tom Lee(@fundstrat)'s #Bitmine bought another 20,000 $ETH($35.85M) from #FalconX 5 hours ago.https://t.co/eeMZJkEUx4 pic.twitter.com/7APpHzUbDZ

— Lookonchain (@lookonchain) June 17, 2026

On June 15, BitMine announced that its Ethereum holdings increased to about 5.62 million tokens after purchasing 76,881 ETH worth $135.62 million in the week ending June 14, strengthening its position as the world’s largest corporate Ethereum holder. Aside from Ethereum, BitMine reported that its combined crypto assets, cash, marketable securities, and other investments are now valued at roughly $10.4 billion.

Tom Lee Reiterates Strong Faith in Ethereum

The company added that it now controls 4.66% of Ethereum’s total circulating supply of 120.7 million tokens, bringing it closer to its long-term goal of owning 5% of all ETH’s circulating supply. Tom Lee, the company’s Chairman, noted that the company is increasing its purchasing power, highlighting strong faith in Ethereum despite recent price dips. 

The Chairman stated:

“We are maintaining a somewhat elevated pace of buying as we believe this pullback in ETH prices does not reflect the strengthening of Ethereum fundamentals. This is not surprising, given that we believe we are in the early stages of crypto spring. Bitmine is expected to reach the ‘alchemy of 5%’ sometime in 2026.”

The company has also staked roughly 4.72 million ETH worth approximately $8.1 billion. The staked token represents over 83% of BitMine’s total ETH holdings. Per the company, these staked tokens could generate annual yields between $219 million and $269 million. Beyond Ethereum, BitMine’s crypto treasury holds 204 Bitcoin (BTC). Other assets include $502 million in cash and marketable securities, a $180 million stake in Beast Industries, and an $88 million investment in Eightco Holdings.

Tom Lee(@fundstrat)'s #Bitmine bought another 76,881 $ETH($135.62M) last week and now holds 5,620,754 $ETH($9.92B).

The average cost is ~$3,450.

At current prices, this position is down over $9.5B.https://t.co/NhjdE0NoXe pic.twitter.com/dLNOIijgpP

— Lookonchain (@lookonchain) June 15, 2026

ETH’s Price Spikes Slightly as Tom Lee’s BitMine Expands Its Ethereum Treasury

At the time of press, Ethereum is trading at approximately $1,783, following a 0.5% spike over the past 24 hours. The asset’s market cap is $215.2 billion, while its trading volume is roughly $12.8 billion. In the past week, ETH’s price gained 9.3%, with price extremes ranging from $1,609 to $1,843. Other extended-period metrics showed that ETH dipped 15.8% month-to-date and 30.9% year-to-date. Ethereum has also dropped 63.9% below its $4,946 all-time high (ATH) attained in August, 2025. 

Coincodex’s data show that Ethereum’s supply inflation is negative at -0.03%. Volatility is very high at 10.48%, while sentiment remains bearish. In addition, the asset’s “Fear & Greed Index” continues to point to “Extreme Fear” at 23. Despite its recent price declines, Ethereum has outperformed 60% of the top 100 cryptocurrencies in the past year. 

Whales Continue to Accumulate ETH

In an X post on Wednesday, Lookonchain reported that a wallet linked to Arthur Hayes purchased an additional 1,400 ETH valued at approximately $2.51 million. Arkham Intelligence data shows that this wallet holds $7.84 million in digital assets. The address holds a total of 4,400 ETH worth $7.84 million. It also holds an insignificant amount of Worldcoin (WLD) tokens.

Another large investor, labeled “Whale geministar.eth,” also added 11,142 ETH worth $19.94 million to its growing Ethereum treasury. Within two days, this large trader completed the purchase of 32,278 ETH valued at approximately $57 million. These consistent acquisitions highlight sustained confidence in ETH despite its unimpressive market performance.

Whale geministar.eth just bought another 11,142 $ETH($19.94M).

In the past 2 days, geministar.eth has bought a total of 32,278 $ETH($57M).https://t.co/rxZgIITp1V pic.twitter.com/kD3WfK6Aav

— Lookonchain (@lookonchain) June 17, 2026

Advertisement