Tom Lee's BitMine Adds $43M in Ethereum While Strategy Halts Bitcoin Buys

BitMine, chaired by Tom Lee, acquired 27,084 ETH for $43 million, boosting its total Ethereum holdings to over 5.7 million ETH worth $9 billion, making it the world's largest publicly disclosed corporate Ethereum holder. The purchase came during a 22% monthly ETH decline to $1,570, 68% below its all-time high. Lee attributed the drop to quarter-end 'window dressing' by institutional investors. BitMine now controls 4.7% of circulating ETH, nearing its goal of 5% by end of 2026. The company also holds 206 Bitcoin, $555 million in cash and securities, and strategic equity investments, totaling $9.8 billion. Originally a Bitcoin miner, BitMine repositioned as an Ethereum treasury firm under Lee, co-founder of Fundstrat. Funding sources include staking rewards and a proposed 9.5% dividend preferred share issuance. Lee cited Ethlabs, a nonprofit R&D organization backed by BitMine and SharpLink Gaming, and the Bank of England's stablecoin stance as positive signals. Meanwhile, Strategy, the largest corporate Bitcoin holder, paused weekly BTC purchases and may sell up to $1.25 billion in Bitcoin under its Digital Credit Capital Framework to strengthen cash reserves and support dividends. This contrast highlights evolving corporate crypto treasury strategies: BitMine treats price weakness as buying opportunity, while Strategy prioritizes balance-sheet flexibility.