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Bitmine, the Bitcoin and Ethereum treasury firm led by Fundstrat’s Tom Lee, has officially crossed 4 Million ETH.
Author: Sahil Thakur
23rd December 2025 – Bitmine, the Bitcoin and Ethereum treasury firm led by Fundstrat’s Tom Lee, has officially crossed 4 Million ETH. As of December 21, 2025, the company holds over 4.06 million ETH, pushing its total stash to approximately 3.37% of the entire Ethereum supply.
This follows a $40.6 million purchase of 13,412 ETH earlier in the week. Over the past seven days alone, Bitmine has acquired 98,852 ETH, totaling nearly $300 million in buys at an average price of $2,991 per token.
With these latest additions, Bitmine has become the largest Ethereum treasury in the world. It now ranks second globally among crypto treasuries overall, just behind Michael Saylor’s Strategy Inc., which holds around $59 billion in Bitcoin.
Bitmine’s total assets include:
The company is backed by major names in crypto and finance, including ARK’s Cathie Wood, Founders Fund, Kraken, Pantera, DCG, and others.
Cointelegraph
@Cointelegraph
🔥 LATEST: Tom Lee's Bitmine bought 98,852 $ETH last week, bringing total holdings to 4,066,062 $ETH worth ~$12.42B. That’s 3.37% of the entire ETH supply. https://t.co/5EshiNqVNl
01:30 AM·Dec 23, 2025
CoinGecko
@coingecko
$ETH BUYS: BitMine Immersion adds 98,852 Ethereum to their treasury. They now hold over 4,000,000 ETH tokens. https://t.co/GeXpoeJa4k
03:55 PM·Dec 22, 2025
Src: Arkham
Bitmine has a clear long-term target. The company wants to own 5% of the total Ethereum supply. At its current pace, it has already reached about 67% of that goal.
Chairman Tom Lee highlighted this momentum in a recent statement. He said the firm is moving quickly toward what he calls the “alchemy of 5%.” He also noted that the benefits of holding large ETH reserves are already visible.
More importantly, Bitmine does not view Ethereum as just another balance-sheet asset. Instead, the firm treats ETH as core infrastructure. It sees Ethereum as the foundation for tokenization, staking, and decentralized finance at scale. As a result, Bitmine positions itself as a bridge between traditional finance and on-chain markets.
At the same time, Bitmine plans to put its ETH to work. Rather than only holding tokens, the company aims to generate yield through staking.
To do this, Bitmine will launch the Made in America Validator Network, known as MAVAN, in early 2026. The company says MAVAN will offer secure, institutional-grade staking infrastructure built specifically for Ethereum.
Lee described the initiative as a best-in-class solution. He added that the goal is to maximize ETH returns while delivering long-term value to shareholders.
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Meanwhile, markets have responded strongly to Bitmine’s strategy. Shares of Bitmine (BMNR), which trade on the NYSE American, have surged 606% over the past six months.
This rally largely tracks the company’s aggressive ETH accumulation. As a result, investors now view BMNR as a public-market proxy for Ethereum exposure.
Finally, with ETH trading back near the $3,000 level, Bitmine’s treasury has returned to profit. This comes after the holdings briefly slipped underwater during the October market correction.
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