Tom Lee says ether 'dwarfing other macro assets' as Bitmine adds 15,112 ETH

Bitmine Immersion Technologies announced Monday that it has increased its Ethereum treasury to 6,016,414 ETH after acquiring 15,112 tokens over the past week.

At $2,726 per ETH, the holdings are worth about $16.4 billion. Bitmine now holds 4.9% of Ethereum's 122.1 million token supply, the company said in a statement.

Of the total tokens held, 5,067,309 ETH, valued at $13.8 billion, are staked through the company's MAVAN platform and staking partners, representing 84% of its balance. Bitmine projected annualized staking revenues of $363 million based on a seven-day annualized yield of 2.63%.

Beyond ether, Bitmine reported 214 bitcoin, a $180 million stake in Beast Industries, a $117 million stake in Eightco Holdings, and $643 million in cash and marketable securities. Its crypto, cash, and other holdings totaled $17.4 billion as of Oct. 4.

Chairman Tom Lee reiterated the company's view on ether, saying ETH had outperformed the S&P 500 by 6,832 basis points in the third quarter.

"The outperformance of ETH by 6,832bp relative to the S&P 500 in 3Q26 is notable considering the substantial macro headwinds that emerged in the quarter including a 'hawkish' Fed, surging oil, rise in global bond yields and general tightening of financial conditions," Lee said. 

According to The Block's ETH price page, ether traded around $2,711 on Monday, up 0.37%. The second-largest cryptocurrency by market cap is up more than 10% over the past month and more than 50% over the past three months.

Bitmine shares closed at $26.27 on Friday, down 1.72%, according to The Block's BMNR price page.