Bitmine holds 6,028,946 ETH valued at $15.3 billion—4.9 percent of ether's 122.1 million token supply. The firm is 76,000 ETH short of its 5 percent acquisition target and plans to halt purchases upon reaching that threshold.
Bitmine has purchased ETH every week since June 2025. Last week alone, the firm added 12,532 ETH worth approximately $32 million.
Chairman Tom Lee said generational wealth transfer will fuel the next crypto bull market. Between 2026 and 2028, $1.5 trillion to $2 trillion will pass from older to younger investors, according to U.S. Internal Revenue Service estimates cited by Lee and his firm Fundstrat. Younger investors show higher risk appetite for digital assets, driving demand for crypto.
Robinhood CEO Vlad Tenev made similar comments last month to Jim Cramer, pointing to over $100 trillion expected to shift between generations over decades.
Bitmine has staked 5.07 million ETH—84 percent of its holdings. At current yields, the firm projects roughly $336 million in annualized staking revenue.
Lee identified additional bull market drivers: Wall Street's growing adoption of blockchain for financial assets, expansion of artificial intelligence applications, and crypto treasury companies maintaining long-term token positions.
