Bitmine Hits 99% of Ether Goal as Tom Lee Downplays Impact of $6.3B Binance Hack

Bitmine Immersion Technologies announced Monday it purchased additional ether, bringing its holdings to 99% of its stated goal of acquiring 5% of ether's total supply, while Chairman Tom Lee downplayed the market impact of last week's $6.3 billion Binance hack. Lee argued the cryptocurrency market's relatively muted reaction to the breach—one of the largest in industry history—signals growing resilience and institutional maturity. Bitmine, a publicly traded ether treasury company, has been aggressively accumulating ETH as part of its long-term treasury strategy. The muted price response to the hack suggests reduced panic-selling compared to prior industry crises, which analysts attribute to deeper liquidity and a larger institutional base. Market watchers should monitor whether Bitmine completes its 5% accumulation target and how ether absorbs continued large-scale treasury purchases, as well as any further details emerging from the Binance hack investigation.