Lee says Ethereum will sit at the center of a unified traditional and crypto market as Bitmine’s treasury grows to 5.74 million ETH and layer-2 payment use expands.
Bitmine chairman Tom Lee reiterated that traditional finance, or TradFi, and crypto are moving toward what he described as a single market, with Ethereum at the center of that shift. In a post on X, Lee restated his long-held bullish view on Ethereum while Bitmine continued building one of the largest corporate Ethereum treasuries, reporting holdings of 5,742,237 ETH, or about 4.8% of Ethereum’s roughly 120.7 million circulating supply. The company also said its combined crypto holdings, cash, marketable securities and other investments were worth about $11.1 billion. Bitmine’s latest disclosures showed it had steadily increased its ETH position, including a recent weekly purchase of 27,084 ETH that pushed the treasury above 5.7 million ETH before the latest update. Beyond Ethereum, the company reported holding 206 Bitcoin, $527 million in cash and marketable securities, and equity investments in Beast Industries and Eightco Holdings. Lee has also tied Ethereum’s long-term outlook to U.S. crypto regulation, particularly the CLARITY Act, arguing that clearer rules could support smart contract platforms as digital assets become more integrated into payments and financial services. He pointed to commercial activity on Ethereum layer-2 networks involving Shopify and Visa processing USDC-related activity as evidence of practical adoption beyond speculation. At press time, Ethereum was trading at around $1,800, little changed over 24 hours and up 2.2% over seven days.