Tom Lee Sees 2026 Crypto Boom as BitMine Adds 24,266 ETH to Holdings
As the crypto market is slowly regaining momentum after the 2025 market crash, BitMine CEO Tom Lee predicts that the recovery is closer than many expect. He believes that 2026 is likely to see another major crypto boom, driven by growing stablecoin adoption, asset tokenization, and Ethereum’s expanding role in the market.
Lee’s outlook comes amid BitMine’s latest ETH purchase. As per reports, the largest Ethereum Treasury company has bought another 24,266 ETH and expanded its Ether portfolio to 4.16 million tokens.
Strengthening BitMine’s ETH Portfolio
In its latest press release, BitMine, the largest public holder of Ethereum, revealed its strategic approach to ETH accumulation. Over the past week alone, the company purchased 24,266 ETH to its balance sheet, reinforcing its position as the world’s largest ETH treasury.
As of today, BitMine boasts a staggering 4,167,768 ETH, equivalent to about 3.45% of the token’s total circulating supply. This growing accumulation of the ETH token amid increasing market volatility showcases the company’s conviction in the token’s capability.
Chairman Tom Lee highlighted that the firm purchases Ether tokens via selective equity issuance above adjusted net asset value (mNAV). This allows the company to grow its holdings without touching shareholder value. He stated,
“In the past week, we acquired 24,266 ETH and still managed to increase our cash position by $73 million. Bitmine only issues equity selectively and only at a premium to mNAV. We remain the largest ‘fresh money’ buyer of ETH in the world. And when MAVAN launches its commercial operations, we will be the largest staking provider in the entire crypto ecosystem.”
With this latest purchase, BitMine’s total holdings, comprised of crypto and cash reserves surged to a massive $14 billion. While it holds 4.16 million ETH, the reserve boasts 193 Bitcoin, $23 million strategic stake in Eightco Holdings, and cash holdings of $988 million. While the platform’s Ether position represents about 3.45% of the crypto’s total holdings, it intends to accumulate at least 5%.
This ETH purchase comes on the heels of BitMine’s previous Ethereum buy, where the platform added more than 32,977 in a span of two weeks.
Is a Crypto Market Boom Ahead? Tom Lee Explains
Along with the ETH accumulation, Tom Lee has also put forward a bold prediction for 2026. He believes that this year is poised to bring a series of benefits to the industry. He noted,
“2026 augurs many positive things for crypto with stablecoin adoption and tokenization driving to make blockchain the settlement layer of Wall Street, particularly favoring Ethereum. We continue to view the leverage reset post October 10th, 2025 as akin to the ‘mini crypto winter.’ 2026 is the year crypto prices recover and with stronger gains in 2027-2028.”
Share Authorization Key to ETH Accumulation Strategy
Significantly, Tom Lee revealed the company’s unusua requirement. This includes the approval by 50% of all outstanding shares to increase authorized shares. Lee says that this requirement makes it difficult to secure such deals.
He added that the company is approaching the limit of its current 500 million authorized shares. Thus, he warned that failing to expand this authorization could significantly impact the company’s Ethereum accumulation strategy. He added,
“Bitmine’s sole focus remains creating stockholder value, achieving this by accretively acquiring ETH per share, and has only issued shares at mNAV premium, optimizing yield and income on its ETH holdings, and strategically investing the balance sheet on ‘moonshots’ and leveraging the company’s strong community and market position to generate additional returns.”
Further, the company also revealed its Ethereum staking process. Till now, the company has staked 1,256,083 ETH.
