Bitmine nears 5% Ethereum supply as Tom Lee predicts major crypto bull market

Tom Lee, Chairman of Bitmine, has announced that the cryptocurrency market has entered a new bull cycle that may surpass previous market expansions. Speaking at Korea Blockchain Week, Lee highlighted several structural drivers for this growth, including the tokenization of real-world assets, increased institutional inflows, and the emergence of AI agents using digital currencies for automated transactions.

Lee noted that the current landscape is significantly different from past cycles due to the deepening integration of blockchain with traditional finance. He specifically pointed to the rise of Digital Asset Treasuries (DAT), which allow companies to hold crypto assets on their balance sheets for longer durations without the redemption pressures faced by traditional funds.

Bitmine is actively supporting this thesis through significant accumulation. As of late September 2026, the company holds over 6 million ETH, representing approximately 4.9% of the total Ethereum supply. This puts the firm at 98% of its goal to control 5% of all Ethereum tokens.