Bitmine adds 12,532 ETH as Tom Lee predicts record crypto bull cycle

Bitmine Chairman Tom Lee said the next crypto bull market could be the largest on record, pointing to tokenization, generational wealth transfers, corporate treasury accumulation and growing demand linked to AI. The outlook accompanied Bitmine’s Monday treasury update. The company added 12,532 ETH over the past week, bringing its holdings to 6,028,946 ETH, or approximately 4.9% of Ethereum’s circulating supply. “Owing to the following factors, we see the potential for this to be the largest ever crypto bull market,” Lee said, identifying those four themes as potential drivers. Lee argued that younger investors inheriting wealth are likely to have a greater appetite for crypto and equities. He expects that shift to have a larger effect on the coming cycle than it did during the 2019 to 2021 bull market. He also pointed to digital asset treasury companies as a new source of supply absorption. Lee described their holdings as effectively permanent removals from the market, although corporate treasuries can sell assets and their strategies can change. Bitmine said it has purchased ETH every week since launching its Ethereum treasury strategy on June 30, 2025. Its latest holdings leave i...