Bitmine Buys More Ethereum as Tom Lee Calls the Binance Hack Bullish

Executive Briefing

According to reporting by Decrypt Financial Technology, The chairman laid out six reasons the market’s “muted” 4% ETH drop after the record Binance theft shows crypto is “increasingly resilient,” as the firm’s stash neared its 5% supply goal.

Detailed Factual Report

Bitmine Immersion Technologies kept its weekly Ethereum buying streak intact, adding 8,573 ETH worth roughly $19 million, while chairman Tom Lee used the record Binance hack to argue that crypto has grown more resilient, not more fragile.

The NYSE-listed company said Monday its holdings now total 6,060,506 ETH, worth roughly $13.7 billion at a reference price of $2,261 per coin.

That represents 4.9% of Ethereum’s 122.2 million token supply, leaving Bitmine, by its own count, 99% of the way to its goal of owning 5% of the network, a target it brands the “Alchemy of 5%,” reached in just 15 months. The firm has bought Ethereum every week since launching its treasury strategy on June 30, 2025.

Most of Lee’s commentary focused on last week’s roughly $6.4 billion theft from Binance , which the FBI has attributed to North Korea . Lee called it “a terrible development” but argued the market’s “relatively muted” reaction was “very constructive.” (Disclosure: Tom Lee is one of several investors in Dastan, Decrypt ’s parent company.)

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Source & Verification Provenance

Information in this article was compiled directly from records provided by Decrypt Financial Technology. Access the primary source document at: https://decrypt.co/382340/bitmine-buys-more-ethereum-tom-lee-binance-hack-bullish. Reporting and editorial review conducted by the USA NOW News Desk.