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Bitmine, the Ethereum treasury firm led by Fundstrat founder Tom Lee, has added 101,627 ether (ETH) worth approximately $233 million to its holdings via Bitgo.
Onchain data shows three newly created wallets receiving 101,627 ETH from Bitgo, one of the largest institutional digital asset custodians in the United States. The wallets have been linked by onchain analysts to Bitmine, the listed Ethereum treasury company that trades under the ticker BMNR on the New York Stock Exchange.
The acquisition is Bitmine’s largest single-week Ethereum purchase of 2026. It comes as ether stabilizes above $2,300 following volatility triggered earlier this week by the KelpDAO exploit.
Using newly created wallets aligns with Bitmine’s stated accumulation approach, which separates new acquisitions from existing holdings. The strategy is intended to simplify staking management and make onchain auditing easier for institutional observers.
With the Thursday purchase, Bitmine’s total ether holdings rise to approximately 4.97 million ETH, putting the firm close to holding 5% of Ethereum’s entire circulating supply.
Bitmine previously staked 61,232 ETH, bringing its total staked position to $7.88 billion. The company reported annualized staking revenue of approximately $212 million at a 7-day yield of 2.89%, with about 68% of its holdings currently staked.
Bitmine was uplisted from NYSE American to the New York Stock Exchange on April 9, increasing its institutional visibility. Its average daily dollar volume of $747 million places it 117th among all US-listed equities, an atypical ranking for a company whose core business centers on holding and staking a single crypto asset.
Tom Lee has described ether as a “wartime store of value” and previously indicated that crypto winter conditions could end sooner than markets expect. The Thursday purchase—Bitmine’s largest onchain move of the year—was presented as a direct reflection of that view.
Separately, Grayscale has flagged a bull market setup forming as bitcoin holds a critical breakeven level for recent buyers, a development that several institutional players appear to be responding to at the same time.
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