# Tom Lee Responds to Zhao as Bitmine Reports 6 Million Ether

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/25700
Published: 2026-09-30T08:57:35.000Z
Updated: 2026-09-30T08:57:35.000Z
Section: Business

> Bitmine held 6,001,302 Ether worth approximately $16.2 billion based on a $2,698 price as of Sept. 27.

Tom Lee responded to Changpeng Zhao’s Sept. 29 social-media post as Bitmine Immersion Technologies reported more than 6 million Ether, underscoring the scale of its cryptocurrency treasury strategy.

Zhao posted green-toned imagery with the caption “Soon…” Lee replied, “agree do you own enough crypto?”

Bitmine held 6,001,302 Ether (ETH) as of Sept. 27 at 3 p.m. ET (19:00 UTC). At $2,698 per ETH, the position was valued at approximately $16.2 billion.

The holdings represented 4.9% of Ethereum’s total supply of 122.1 million ETH. Bitmine’s “Alchemy of 5%” strategy targets ownership of 5% of Ethereum’s supply, putting the company 98% of the way toward that goal.

“Bitmine’s total ETH holdings now exceed 6 million,” Lee said. “This is a tremendous achievement, accumulating this total in under 15 months.”

Bitmine held 5,067,309 ETH in staking, or 84% of its holdings, valued at $13.7 billion at the same price. Staking involves depositing tokens to help support a blockchain network and can generate rewards.

Bitmine acquired 17,362 ETH during the week before its Sept. 28 announcement and has purchased ETH every week since June 30, 2025.

Its assets also included 213 Bitcoin (BTC), $672 million in cash and marketable securities, a $180 million stake in Beast Industries and a $115 million stake in Eightco Holdings. Total crypto, cash, marketable securities and “moonshot” investments reached $17.2 billion.

Lee’s response was market commentary, not an announcement of a new purchase or trading recommendation. He said institutions remain underweight crypto and are expected to increase their exposure during the final months of 2026.

Bitmine was scheduled to have Lee deliver a keynote at Korea Blockchain Week in Seoul on Sept. 30 at 10:20 p.m. ET on Sept. 29 (02:20 UTC on Sept. 30). The event was set for 11:20 a.m. Korea Standard Time on Sept. 30.