BitMine’s ETH Bonanza: 4.21M Coins Later, They’re Just Getting Started 🚀💸

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Tom Lee’s BitMine has bought 20,000 ETH from Kraken, because apparently, $65.4 million is just “a snack” these days. Total hoard: 4.21M ETH. Value: $13.9B. The market’s response? A yawn, a shrug, and a very confused parrot who kept repeating “$13.9B? That’s more than my mortgage!”

BitMine Immersion Technologies recently acquired 20,000 ETH (roughly $65.4M) from Kraken. One might call it a “purchase,” but the company prefers “rounding up loose coins from the floor of the crypto casino.”

This latest splurge is part of a three-day spending spree that saw 44,068 ETH ($146M) vanish into BitMine’s vaults. If Ethereum were a library, BitMine would’ve just checked out every book and then donated a few to the “tax-deductible” shelf.

Under Tom Lee’s leadership, BitMine now holds 4.21M ETH-enough to make even Sauron pause and say, “Well, that’s a lot of shiny.” The company claims it’s the largest Ethereum treasury globally. We’ll believe it when they start minting their own NFTs of the word “treasure.”

BitMine’s 5% Ethereum Gambit: Because 100% Was Already Taken 🎲

With a long-term goal of owning 5% of the total ETH supply, BitMine is playing the crypto equivalent of “Monopoly” with real money. At 4.21M ETH, they’re halfway there. The next stop: 5% or bust. Or, you know, a quiet retirement in a mansion funded by staking rewards.

The January 17, 2026, purchase of 20,000 ETH was the latest move in this grand plan. If Ethereum were a cake, BitMine would be the kid who eats half the frosting and then accuses the cake of being “overpriced.”

🚨 BREAKING: Tom Lee’s BitMine just bought 20,000 ETH ($65.4M) from Kraken. Total ETH hoarded: 44,068 ($146M) in 3 days. Now holding 4.21M ETH ($13.9B). The market is screaming, “Why?!” BitMine’s reply: “Why not?”

– Crypto Patel (@CryptoPatel)

Ethereum was trading around $3,300 at the time, which BitMine called “an attractive entry point.” The company treats ETH like a wizard treats a spellbook: with reverence, a bit of greed, and the occasional hex on anyone who sells at a loss.

Staking: Because Letting Money Sit Is Just as Productive as a Dragon’s Nap 🐉

BitMine stakes most of its ETH, generating an estimated $400M annually in pre-tax income. That’s enough to fund a small kingdom-or at least a very expensive coffee habit for a thousand baristas.

This staking activity has caused Ethereum’s validator waitlist to balloon to 44 days. New validators are now queuing up like fans at a concert, while BitMine’s hoard sits there, smug as a cat with a laser pointer.

Staking has become the company’s “core competency,” alongside things like not panicking during market crashes and occasionally forgetting which wallet holds their keys.

Related Reading: BitMine Stock Gains After $200M Bet on Beast Industries (Yes, That Beast)

Shareholder Support: Because Democracy and Greed Can Coexist 🗳️💰

BitMine’s shareholders have blessed their ETH buying spree with a recent vote. The company now has the green light to “accumulate more coins and expand into other financial areas”-read: “Let’s buy everything and hope it pays off.”

In a bold move, BitMine also invested $200M in Beast Industries, the company run by YouTuber MrBeast. This is either a genius play to tap into Gen Z’s attention span or a very expensive bet on whether viral videos can be staked for yield.

🔥 Tom Lee’s BitMine is betting big on MrBeast’s Beast Industries. Why? Because nothing says “Web3 future” like a guy who buys a million pizzas and calls it “content.”

– CryptosRus (@CryptosR_Us)

With these moves, BitMine is building a crypto empire that’s part hedge fund, part treasure hunt, and 100% unapologetically ambitious. The only question left is: Who’s going to be the first to ask, “What happens when they hit 5%?” The answer, probably, is “More ETH.”

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2026-01-17 21:29