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Tom Lee&#x27;s Bitmine isn&#x27;t dipping its toes into Ethereum. It&#x27;s building a position. On-chain data shows the company held approximately 5.54 million ETH by June 2026. Roughly 67% of it is staked.
The latest buy came June 10. Lookonchain tracked a 25,000 ETH purchase worth around $41 million. That was part of a three-day window. Bitmine acquired 125,000 ETH total, according to The Block.
The buying goes back months. On February 9, The Block reported Bitmine picked up 40,000 ETH in a single day. Sourced from FalconX and BitGo. Total: roughly $84 million. Lee called the timing deliberate. He saw the pullback as an &quot;attractive entry point.&quot;
The staking program is massive. A January 20 press release from Bitmine Immersion Technologies disclosed 1,838,003 ETH staked as of January 19, 2026. Total ETH holdings: 4.203 million tokens. Combined crypto and cash treasury: $14.5 billion. The company&#x27;s stated target is 5% of the total ETH supply.
Lee put the staking income in plain numbers.
&quot;Bitmine has staked more ETH than other entities in the world,&quot; he said in the January press release. &quot;At scale, the ETH staking fee is $374 million annually, or greater than $1 million per day.&quot;
His thesis isn&#x27;t complicated.
&quot;Wall Street is building on Ethereum,&quot; Lee stated in the same release. &quot;Ethereum represents the future of finance.&quot;
There&#x27;s more to the on-chain picture. <a href="https://www.chaincatcher.com/en/article/2261706" target="_blank" rel="noopener">ChainCatcher</a> cited Lookonchain data flagging a BIT-associated wallet holding 90,000 ETH as of April 30, 2026. That entire position was reportedly staked. Gone from liquid exchange supply. Separately, crypto analyst AshCrypto flagged a wallet reportedly linked to Bitmine purchasing $24.2 million in ETH the same day. AshCrypto characterized it as institutional dip-buying. That wallet attribution hasn&#x27;t been independently verified. Treat it as analyst interpretation.
The staking mechanics are worth noting. Large ETH positions locked into validators exit the pool of tokens available for sale. At Bitmine&#x27;s volumes, the supply-side effect is real. Price impact isn&#x27;t guaranteed. But the supply removal is measurable.
Sentiment data adds context. LunarCrush showed ETH at 80% positive readings during the on-chain accumulation cluster. Spot price was dipping at the same time. That kind of divergence has historically pointed to conviction buying. Not momentum chasing.
Bitmine is now one of the largest known ETH treasury holders globally. Its staking income exceeds $1 million per day by the company&#x27;s own projections. It keeps buying during price softness. That makes it a structural long-term demand source. Whether it moves price depends on factors beyond any single wallet. The direction of the bet isn&#x27;t ambiguous. Neither is its scale.

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Tom Lee's Bitmine Is Stacking ETH at Institutional Scale

Tom Lee's Bitmine stacked 5.54 million ETH by June 2026, with 67% staked generating over $1M daily. Inside the biggest institutional ETH bet on Wall Street.