Speaking at a June 11 DACFP conference, Lee said shrinking Ether supply could support BitMine even if it slows purchases, while the firm still added 25,000 ETH and could join the Russell 1000 by late June.
Tom Lee said BitMine may not need to own more than 5% of total ETH supply and could slow its Ether purchases as it nears that threshold, even though the company still bought another 25,000 ETH. Speaking at a June 11 DACFP conference for investment advisers, Lee argued blockchain-based systems can reduce operating costs versus parts of the traditional financial stack, said agentic AI will rely on Ethereum and Bitcoin rails, and pointed to shrinking ETH supply as a supportive factor. He also said BitMine could join the Russell 1000 by late June, while Ether rose 3% alongside the latest buying update.