Tom Lee Calls Crypto a ‘Good Wartime Store of Value’ as Bitmine Adds 71,179 ETH

• Bitmine Immersion increased its treasury to 4,732,082 $ETH (approx. $9.8 billion) after acquiring an additional 71,179 units since March 23rd.
• Chairman Tom Lee confirmed that Ethereum outperformed equities by 1,160 basis points and gold by 750 points during the ongoing conflict.
• The firm now controls 3.92% of Ethereum’s circulating supply, with 66% of its assets (3.1 million $ETH) generating substantial staking rewards.

Tom Lee, the renowned financial strategist, is making headlines after defending the role of digital assets as a safe haven in such an unstable context. The executive stated that while gold shows poor performance, the crypto ecosystem is strengthening and consolidating as a robust “wartime store of value.”

Embracing this premise, Bitmine is doubling down on its accumulation strategy and now controls nearly 4% of Ethereum’s circulating supply, which translates to 120.7 million $ETH [sic]* in total network impact. They reported total asset and cash holdings of $10.7 billion, positioning themselves behind MicroStrategy as the second-largest public crypto treasury.

Bitmine and the Strategy Toward 5% of Ethereum Supply

In addition to its massive crypto coffers, the company has 3,142,643 $ETH in staking—at least 66% of its total funds. This operation generates $177 million in annualized income, strengthening the company’s financial position against oil market volatility.

Furthermore, Lee highlighted that over the past year, the inverse correlation between cryptocurrencies and oil reached all-time highs. His analysis indicates that the end of the “crypto winter” is closely tied to the moment when the upside risk of crude oil prices hits its ceiling.

With the backing of institutional investors like Cathie Wood and Pantera Capital, Bitmine is moving toward its goal dubbed the “Alchemy of 5%.” Currently holding 3.92% of the $ETH supply, the firm significantly outpaces competitors like SharpLink and The Ether Machine in the race for Ethereum network dominance.

Bitmine’s aggressive accumulation and Lee’s outlook underscore a transition in the institutional perception of Ethereum, positioning it not only as a technological platform but as an essential macroeconomic hedge asset in the 2026 geopolitical landscape.