Tom Lee’s BitMine Buys 96,798 Ethereum — How Many More to Reach Its 5% Supply Target?

Tom Lee’s BitMine Immersion Technologies has continued its weekly Ethereum accumulation spree, adding more than 90,000 ETH last week.

Evans Kelvin

Senior Editor

Dec 01, 2025 @ 6:32 UTC

Dec 1, 2025

Key Points

BitMine is not slowing down in its quest to acquire 5% of Ethereum's supply, as it adds 96,798 ETH last week.

Following the purchase, BitMine now holds about 3.08% of Ethereum's total supply.

The company still needs to buy millions of Ethereum to reach its 5% supply target.

Leading Ethereum treasury firm BitMine Immersion Technologies is accelerating its accumulation of ETH, the second-largest crypto by market cap. New on-chain data from Lookonchain reveals that BitMine, the crypto investment company linked to Fundstrat’s Tom Lee, purchased 96,798 ETH between November 24 and November 30, 2025—an acquisition worth roughly $273 million.

BitMine’s Weekly Ethereum Accumulation

Furthermore, this latest buy extends a consistent pattern of weekly accumulation. The data shows that BitMine acquired 69,822 ETH between November 17 and November 23, and 54,156 ETH between November 10 and November 16.

In addition, the firm’s strategic accumulation streak dates back to mid-2025, when BitMine first purchased 163,142 ETH between June 30 and July 14, 2025. Despite fluctuations in weekly buy volumes, BitMine’s overall balance has steadily increased month after month.

Praising the firm’s strategic accumulation, leading blockchain analytics platform Arkham Intelligence noted that BitMine has “bought the dip, the next dip, and the dip after that.”

How Much More ETH Needed to Reach BitMine 5% Supply Target

With this latest purchase, BitMine’s Ethereum holdings have risen to 3,726,499 ETH (3.72 million), valued at roughly $10.21 billion at current prices. Despite the broader market downturn, BitMine continues to treat the dip as a buying opportunity, steadily adding to its position. The firm, led by its executive chairman Tom Lee, aims to control 5% of Ethereum’s total supply.

At the moment, its 3.72 million ETH represents about 3.08% of the circulating supply. To reach its 5% target, BitMine still needs to accumulate an additional 2,308,276 ETH (2.3 million), which would bring its total holdings to approximately 6,034,775 ETH (6.03 million).

Meanwhile, Ethereum has continued to face intense selling pressure, with the asset dropping to $2,720 earlier today. It is currently trading around this and is priced at $2,742 in the hours leading up to press time. At this price, ETH is down 9.73% over the past 24 hours, with its weekly loss standing at 6.8%.

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