Tom Lee’s Ethereum Treasury firm, BitMine, is doubling down on ETH regardless of the present market crash. Further bolstering its Ether holdings, the corporate purchased 17,722 ETH over the previous few hours.
Linked Wallets Push Bitmine’s ETH Buying Spree Higher
According to the latest findings from Lookonchain, an on-chain analytics platform, BitMine purchased 17,722 ETH, price about $34.74 million, simply eight hours in the past. This comes as a part of the corporate’s bigger shopping for spree this week.
Notably, three wallets apparently linked to BitMine gathered a complete of 62,722 Ether tokens, valued at round $123.25 million. This brings its whole Ethereum holdings to 4,371,497, price $8.5 billion at present costs.
On February 17, Lookonchain revealed BitMine’s Ethereum buy in per week, which accounted for about $90 million. As per the publish, the platform purchased about 45,759 tokens final week, marking the most important buy of the 12 months.
Tom Lee(@fundstrat)’s #Bitmine purchased one other 45,759 $ETH($90.83M) final week and now holds 4,371,497 $ETH($8.68B).
The common value is ~$3,821.
At present costs, this place is down over $8.03B.https://t.co/1ut52yzsmO pic.twitter.com/gDnehedwyb
— Lookonchain (@lookonchain) February 17, 2026
On February 19, CoinGape reported that Tom Lee added more tokens to the corporate’s holdings. The agency purchased about 20,000 ETH, price $39.8 million, from BitGo.
Nearing Major Milestone in ETH Accumulation
With the newest buy, BitMine is shifting nearer to its goal of buying 5% of Ethereum’s whole circulating provide. Tom Lees’ firm presently holds greater than 4 million tokens, which accounts for roughly 3.3% of the present circulating provide, based mostly on Ethereum’s provide of round 120 million cash. This signifies that the corporate is now 72.3% close to the 5% Ethereum accumulation milestone.
As Tom Lee intends to proceed his ETH accumulation, the corporate is anticipated to quickly attain the milestone. It wouldn’t solely strengthen its strategic ETH place however may additionally affect the broader crypto market.
BMNR Stock Price Slips Despite Ether Token Buy
Despite the corporate’s steady Ether buy, the BMNR inventory worth remains to be struggling. The BitMine shares traded round $20.13 within the newest session, posting a modest achieve of 0.85% earlier than slipping barely in after-hours buying and selling to $20.08. Throughout the day, the inventory moved between $19.66 and $20.39.
As CoinGape reported, the BMNR stock price has declined by an enormous 80% from its all-time excessive. This signifies that the prevailing ETH worth crash fails to repay the corporate’s funding technique.
This is especially due to the current market crash, with Ethereum being one of many largest losers. The token is now buying and selling at $1,962, down by about 60% from its all-time excessive of $4.8k.
