Tom Lee's BitMine continues to invest an additional $745 million in Ethereum

Tom Lee's strategy

BitMine Immersion Technologies ( NYSE American: BMNR ), a publicly listed company chaired by Tom Lee of Fundstrat, has added 254,000 ETH – worth approximately $745 million at current prices ( $2,930/ETH ) – in the latest escalation of its Ethereum treasury management strategy.

This transaction, confirmed via on-chain data from Arkham Intelligence and BitMine's January 28, 2026 announcement, brings the total amount of ETH the company has added to over 1.2 million tokens ( $3.5 billion ), representing approximately 1% of the total Ethereum supply. This is BitMine's largest additional deposit to date and continues the company's aggressive shift from Bitcoin mining to becoming the world's largest holder and adder of Ethereum.

Tom Lee's well-structured argument

Chairman Tom Lee has repeatedly spoken about Ethereum's outstanding long-term potential since the company's shift to a 2025 roadmap:

• “ Ethereum is becoming the dominant platform for tokenized real-world assets, institutional DeFi, and programmable finance. Staking offers sustainable returns while we await the next bull run — potentially reaching $7,000–$12,000 in 2027–2028. ”

• Emphasis on tokenization as a disruptive use case for Ethereum (BlackRock BUILD, Franklin OnChain, Ondo Finance, VanEck AVAX ETF, etc.)

• The belief that Ethereum staking participation (~ 29% of the supply locked ) creates structural supply scarcity.

• The MAVAN infrastructure allows BitMine to collect rewards from validators while maintaining control and compliance with US regulations.

Lee has repeatedly stated that BitMine is “ optimistic about ETH in the long term ” and intends to continue accumulating and staking during periods of weak prices — a strategy similar to MicroStrategy’s strategy for Bitcoin but applied to Ethereum.

Supply - Yield - Signals

Large-scale staking reduces the circulating supply while increasing the demand for validation infrastructure and staking services. Over time, this could put increasing pressure on ETH scarcity—especially as more institutions choose to staking rather than passively storing.

Equally important is the signaling effect. When large capital allocators commit capital at this scale, it normalizes staking ETH as an institutional financial management strategy rather than a specialized cryptocurrency activity.

Large-scale staking is not without risk. Risks of throttling, protocol changes, and liquidity constraints must be carefully managed. BitMine's move demonstrates confidence in Ethereum's maturity, validator reliability, and governance processes—areas that have improved significantly since the transition to proof-of-stake.

Assessment and Conclusion

Tom Lee's BitMine now holds over $3.5 billion worth of ETH, making it the largest holder and staker of the asset by a significant margin. The latest $745 million investment — the largest move since November 2024 — is a strong affirmation of Ethereum's long-term trajectory as a payment layer for real-world tokenized assets, DeFi for institutions, and programmable finance. With approximately 1.2 million ETH staked and generating annual returns of around $110-120 million (based on current annual interest rates), BitMine is demonstrating that Ethereum can function as both a growth asset and an effective treasury reserve — precisely the narrative Lee has championed since turning around.

Disclaimer: The information presented in this article is the author's personal opinion in the field of cryptocurrency. This is not financial or investment advice. All investment decisions should be based on careful consideration of your personal portfolio and risk tolerance. The views expressed in this article do not represent the official stance of the platform. We recommend that readers conduct their own research and consult with experts before making any investment decisions.

Compiled and analyzed by HCCVenture

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