BitMine’s ETH Stash Hits 6.06 Million as Tom Lee Reaffirms Crypto Bull Market Is Still Alive

Bitmine Immersion Technologies added 8,573 ether, bringing its treasury to 6,060,506 tokens as of Nov. 1, valued at $2,261 each using Coinbase pricing and close to its 5% supply target. The company, chaired by Tom Lee, said it has been buying ether since starting its Ethereum treasury strategy on June 30, 2025, though the recent purchase was smaller than summer buys exceeding 50,000 tokens. Bitmine said it has staked more than 5,227,000 ether, or 86% of holdings, which Lee estimated could generate $358 million in annualized staking revenue. Lee also said ether's roughly 4% decline after last Friday's $6.3 billion Binance hack, compared with Bybit's 2025 impact, indicated the crypto bull market remains intact.