Tom Lee Just Bought Another $131M of $ETH Bitmine’s latest weekly add was 53,501 ETH — its biggest purchase since June — and it extends a 65-week buying streak that started when the company pivoted into an Ethereum treasury in June 2025. The company had slowed into much smaller weekly clips through July and August as it got closer to its own target. Last week it sped back up. > New buy: 53,501 ETH, about $131M
> total stack: 5,901,112 ETH
> value: about $14.5–14.8B
> share of supply: 4.9% of 120.7M ETH
> still needed for 5%: about 134K ETH, or roughly $325M
That 5% target is the whole strategy: the “Alchemy of 5%.” Bitmine is now 98% of the way there. About 86% of the pile is already staked through MAVAN, so this is not just idle treasury ETH.
There is still something to watch: the cost basis. DefiLlama still has Bitmine’s average buy near $3,370. At around $2,450–$2,510 spot, the stack is large and still underwater. So Tom Lee is buying. The treasury is not in profit.
$ETH got a whale bid. BMNR is still a leveraged wrapper on that bid.
#BTC Price Analysis# #BTC Price Analysis# $BTC
> total stack: 5,901,112 ETH
> value: about $14.5–14.8B
> share of supply: 4.9% of 120.7M ETH
> still needed for 5%: about 134K ETH, or roughly $325M
That 5% target is the whole strategy: the “Alchemy of 5%.” Bitmine is now 98% of the way there. About 86% of the pile is already staked through MAVAN, so this is not just idle treasury ETH.
There is still something to watch: the cost basis. DefiLlama still has Bitmine’s average buy near $3,370. At around $2,450–$2,510 spot, the stack is large and still underwater. So Tom Lee is buying. The treasury is not in profit.
$ETH got a whale bid. BMNR is still a leveraged wrapper on that bid.
#BTC Price Analysis# #BTC Price Analysis# $BTC
