Tom Lee’s BMNR Reportedly Adds Over 13,000 ETH In $40 Million Buy – Pushing Holdings Toward 4M Tokens

Chairman Tom Lee has previously said crypto prices have stabilized after October’s sharp drawdown, supporting continued accumulation.

• BitMine Immersion Technologies purchased 13,412 Ethereum for about $40.6 million, according to on-chain data cited by Lookonchain and Arkham Intelligence.
• If confirmed, the latest acquisition would lift BitMine’s total Ethereum holdings above 4 million tokens.
• Fundstrat, led by Lee, has separately warned clients to expect a broad crypto correction in the first half of 2026.

Tom Lee-backed BitMine Immersion Technologies (BMNR) reportedly added more than 13,000 Ethereum (ETH) tokens in a fresh purchase worth over $40 million on Monday.

According to a wallet cited by Lookonchain, Arkham Intelligence data showed the wallet bought 13,412 ETH for $40.61 million. Like Michael Saylor’s Strategy (MSTR), Bitmine announces its new purchases at the start of the week. If confirmed, the latest purchase of 13,412 ETH would push BitMine’s total holdings past the 4 million mark. 

BMNR’s stock rose more than 3.5% in pre-market trade on Monday after a 10.31% gain in the previous session. On Stocktwits, retail sentiment around the company fell to ‘extremely bearish’ from ‘bearish’ territory over the past day as chatter fell to ‘low’ from ‘normal’ levels.

Ethereum’s price held above the $3,000 mark on Monday morning, up 1.5% in the last 24 hours, outperforming Bitcoin (BTC). It was among the top trending tickers on Stocktwits, at the time of writing. Retail sentiment around the leading altcoin on the platform remained in ‘bearish’ territory over the past day, but chatter rose to ‘normal’ from ‘low’ levels.

Ethereum Holdings Continue To Climb

The latest purchase follows a significant buildup last week, when the company added 102,259 ETH, lifting its total holdings to roughly 3.87 million tokens. BitMine has positioned itself as the largest digital asset treasury (DAT) focused on Ethereum, ahead of SharpLink Gaming (SBET), which holds about 859,853 ETH.

“Crypto prices have stabilized in the past week, further evidence that crypto prices have begun to recover after the price shock of October 10th,” Lee said last week. BitMine has publicly stated its intention to accumulate as much as 5% of Ethereum’s total supply, a target that would give it outsized influence among corporate holders of the network’s native asset.

The company plans to accumulate 5% of Ethereum’s overall supply. BMNR is currently the largest digital asset treasury (DAT) with Ethereum in its coffers, followed by SharpLink (SBET) with 859,853 in its treasury.

Caution Flags From Fundstrat

Despite BitMine’s aggressive accumulation, Fundstrat has warned clients to brace for a potential correction in the first half of 2026. In a report cited by Heisenberg on X, Fundstrat’s head of crypto research, Sean Farrell, outlined a base-case scenario that sees Bitcoin falling between $60,000 to $65,000, Ethereum between $1,800 to $2,000, and Solana (SOL) between $50 and $75.

BMNR's stock is up over 280% so far this year, and has gained more than 300% in the last 12 months. The company announced its pivot to an Ethereum-based DAT in June.

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