On-chain analyst puts Bitmine's latest ETH purchase at $70 million as treasury reaches 5.74 million tokens
On-chain data tracking Bitmine's wallet activity puts the firm's latest Ethereum purchase at $70 million, according to an analyst monitoring the address. Tom Lee's company now holds 5.74 million $ETH by its most recent disclosure, a figure representing roughly 4.8% of the token's circulating supply. The next event to watch is a formal filing that confirms the purchase on record.
Key takeaways
- An on-chain analyst estimates Bitmine's latest Ethereum purchase at $70 million, based on tracking the firm's wallet activity rather than a company announcement.
- Tom Lee's company Bitmine now holds 5.74 million ETH by its most recent disclosure, representing roughly 4.8% of Ethereum's circulating supply.
- The $70 million dollar value depends on the price the analyst applied to the transfer, a methodology the source does not specify.
- The wallet's attribution to Bitmine reflects the analyst's identification, not a company confirmation.
- The next confirmable step is a formal Bitmine filing that would fix the number of tokens acquired and the price paid.
On-chain data tracking Bitmine's wallet activity puts the firm's latest Ethereum purchase at $70 million, according to an analyst monitoring the address. Tom Lee's company now holds 5.74 million $ETH by its most recent disclosure, a figure representing roughly 4.8% of the token's circulating supply. The next event to watch is a formal filing that confirms the purchase on record.
What the on-chain read shows
The $70 million add comes from an analyst tracking Bitmine's on-chain wallet activity, not from a company announcement. On-chain data can confirm that tokens moved to an identified address. The dollar value attached to that movement depends on what price the analyst applied to the transfer, a methodology the source does not specify. Wallet attribution also carries its own caveat: an address tagged as belonging to Bitmine reflects the analyst's identification, not a company confirmation. Both distinctions are worth holding alongside the headline number.
The 4.8% supply position
Bitmine's disclosed stack of 5.74 million $ETH represents roughly 4.8% of Ethereum's circulating supply. At that scale, the position is large enough to matter to the supply side of the tape. A single holder at that level can move the needle on available liquidity in thin sessions, though the current disclosure says nothing about the timeline for any sales or transfers, and no lockup terms appear in the source. The 5.74 million ETH figure confirms the size of the commitment Tom Lee's firm has made to the token.
What to watch
The next confirmable step is a Bitmine filing that formally accounts for the on-chain analyst's $70 million read. Such a document would fix the number of tokens acquired and the price paid, details the current on-chain read cannot fully supply. The existing disclosure places total holdings at 5.74 million ETH. Any update to that record is the print that closes the loop.
Related reading
Filed by the digital assets desk of MarketPR on July 8, 2026. Source: theblock.co. Indicative figures are not investment advice.