# Tom Lee’s Bitmine Adds $20M in Ethereum, Seizing on Vitalik’s ‘ETH Is Money’ Declaration

- URL: https://talkfuse.com/story/tom-lees-bitmine-adds-20m-in-ethereum-seizing-on-vitaliks-eth-is-money-declaration/
- Published: 2026-11-09T17:08:21+00:00
- Updated: 2026-11-09T17:21:49+00:00
- Original publisher: Decrypt
- Original article: https://decrypt.co/382854/tom-lee-bitmine-adds-20m-ethereum-vitalik-eth-money
- Topics: Business, Crypto, Football, Sport

## Key points

- Bitmine bought 9,587 ETH worth about $20 million.
- Its 6.07 million ETH is 4.97% of supply.
- Lee cited Buterin’s view of ETH as a store of value.

## Summary

Bitmine Immersion Technologies bought another 9,587 Ethereum, worth about $20 million, extending its weekly buying streak. Chairman Tom Lee said comments by Ethereum co-founder Vitalik Buterin describing ETH as a store of value supported Bitmine’s strategy, and argued that Ethereum could benefit from growing use of tokenised assets and AI.

The NYSE-listed company reported holdings of 6,070,092 ETH, valued at roughly $13.6 billion at $2,234 per coin. That represents 4.97% of Ethereum’s supply and puts Bitmine 99% of the way towards its 5% ownership target; it has bought ETH weekly since 30 June 2025. Its total holdings, including other assets, were $14.3 billion, and it had staked about 5.23 million ETH, with projected annual staking revenue of around $359 million.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.