Tom Lee's BMNR Adds 1 BTC, Expands ORBS Stake By $7M Amid Ethereum Buying Spree

BitMine expanded its crypto and equity holdings while keeping its focus on building a 5% stake in Ethereum.

• The company bought 1 BTC, raised its ORBS stake to $98 million, and added 27,180 ETH over the past week. 
• Tom Lee said the ETH/BTC ratio has broken a long-term trend and that tokenization and agentic AI are driving the next crypto cycle. 
• The GENIUS Act and SEC's Project Crypto could transform financial markets like the 1971 gold standard decision, Lee said.

BitMine Immersion Technologies (BMNR) announced on Monday that it bought 1 Bitcoin (BTC) and raised its stake in Eightco Holdings (ORBS) by $7 million. 

The purchase brings BitMine’s Bitcoin stake to 212 coins. Its stake in ORBS rose to $98 million from $91 million. Cash and market securities fell to $549 million from $593 million, according to the company’s statement. Its stake in Beast Industries was unchanged at $180 million. 

BitMine also announced that it acquired 27,180 Ethereum (ETH) over the past week, taking its total to 5.96 million tokens. The company put that at 143,622 short of 6.1 million ETH, the level it says would give it 5% of the supply. That figure assumes a total supply of 122 million.

BMNR's stock was down 0.2% in morning trading, amid broader weakness in the tech market. On Stocktwits, the retail sentiment around BMNR remained in the ‘bearish’ zone, with chatter at ‘low’ levels over the past day.

ETH/BTC Ratio Hits Highest In Nine Months, Says Lee

Chairman Tom Lee said the Ethereum-to-Bitcoin price ratio climbed to its highest level since January 30. He said the move broke a trend line, “breaking the trendline in place since the COVID-19 highs.” This ratio is a new addition since last week's update. 

Lee placed it inside a longer cycle. He said the ratio had risen in past bull markets, driven by ICOs in 2017 and 2018, NFTs in 2020 and 2021, and stablecoins in 2025. In this upcoming crypto cycle, we see the ETH/BTC ratio rising, driven by Wall Street tokenizing on the blockchain and by agentic AI using blockchains," Lee added.

Ethereum’s price was trading at $2,503, up 1% in the last 24 hours. On Stocktwits, the retail sentiment around ETH remained in the ‘bearish’ zone, accompanied by ‘low’ chatter levels over the past day.

GENIUS Act, SEC’s Project Crypto Mark A ‘Structural Break’ For Markets

Lee also added that the GENIUS Act and the Securities and Exchange Commission's (SEC) Project Crypto were as transformational as the 1971 decision that ended the gold standard. Lee reframed both as structural breaks rather than mere policy tweaks.

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