Tom Lee Says Institutions Are Still Underweight Crypto After Latest BitMine ETH Buy

BitMine bought another 27,562 ether last week. It now holds 5.98 million of the tokens, worth about $16.3 billion. However, they still cannot reach the 5% of Ethereum (ETH) supply it has chased for 15 months.

Chairman Tom Lee says large investors are still underinvested in crypto and will pile in before the year ends. The stock market values his company at less than the crypto it already owns.

BitMine Buys Ether Every Week and the Finish Line Keeps Moving BitMine describes itself as a company built to accumulate crypto for the long term. It has bought ether every single week since June 30, 2025, and says it is 98% of the way to owning 5% of every ether in existence.

🧵1/BitMine provided its latest holdings update for September 21, 2026$17.1 billion in total crypto + "moonshots":– 5,983,940 ETH at $2,688 per ETH (per @coinbase)– 212 Bitcoin (BTC)– $180 million stake in Beast Industries @MrBeast– $105 million stake in Eightco Holdings…— Bitmine (NYSE-BMNR) $ETH $BMNP (@BitMNR) September 21, 2026 However, ether has no supply limit.