Bitmine Chairman Tom Lee said the company is positioning itself around multiple crypto and AI-linked business lines as the market moves out of what he described as a prolonged crypto downturn.
Speaking at Consensus Miami 2026 on Thursday, Lee pointed to the company’s Ethereum treasury strategy, staking operations, and investments tied to artificial intelligence and creator platforms as key pillars of growth.
While Ethereum remains central to the firm’s balance sheet, Lee indicated Bitmine is now broadening its focus beyond simply accumulating the asset.
Ethereum holdings reach more than 4% of supply
Lee said Bitmine currently controls more than 4% of Ethereum’s circulating supply, a figure the company initially expected would take years to achieve.
According to Lee, Bitmine crossed 1% ownership in August last year and continued adding to its position through early 2026. However, he suggested the company may slow future purchases despite earlier plans to target 5% ownership. He said the current pace of buying, roughly 100,000 ETH per week, could push the company to that threshold within weeks, prompting discussions around capital allocation priorities.
Staking business emerges as revenue driver
Alongside treasury holdings, Lee highlighted the company’s staking operation as a major source of recurring revenue. He said Bitmine now manages several billion dollars in customer crypto assets and stakes approximately $14 billion worth of digital assets, including Ethereum, Solana, and Canton-linked holdings.
About 85% of the company’s own Ethereum reserves are staked, generating what Lee described as annualized staking revenue approaching $1 million per day. Combined with cash reserves, Lee said the business is producing a daily cash flow exceeding $1.2 million.
AI and creator economy investments
Lee also discussed Bitmine’s investments outside core crypto infrastructure, including exposure to artificial intelligence and digital media platforms. He referenced the company’s investment in an AI-focused firm, which he said provides indirect exposure to projects connected to proof-of-humanity systems and OpenAI-related assets.
Another major position involves a $200 million investment linked to MrBeast and the creator economy. Lee said Bitmine sees long-term potential in financial products aimed at younger internet-native audiences, particularly as wealth transfers accelerate over the coming decades. He suggested blockchain-based settlement systems, particularly on Ethereum, could eventually play a larger role in creator-focused financial infrastructure.
Ethereum remains central to the thesis
Despite diversification, Lee repeatedly framed Ethereum as the company’s primary strategic asset. He argued that tokenization, AI-driven systems, and blockchain-based settlement networks could increase Ethereum’s long-term relevance due to its role as an open settlement layer.
Lee also pointed to Ethereum’s post-merge supply dynamics, noting that issuance has remained net negative during periods of sustained network activity since Bitmine began accumulating ETH.
Treasury firms face pressure to outperform assets
Lee said digital asset treasury companies ultimately need to outperform the cryptocurrencies they hold rather than simply mirror market movements. He claimed Bitmine’s stock performance has exceeded Ethereum’s gains since the company launched its treasury strategy in 2025, though he acknowledged the company’s valuation remains closely tied to ETH price movements.
According to Lee, the combination of Ethereum exposure, staking income, treasury management, and AI-linked investments is intended to give Bitmine multiple growth channels as institutional interest in crypto infrastructure expands.
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