Tom Lee’s Bitmine Buys $81 Million of Ethereum as ETH Rally Accelerates
Bitmine Immersion Technologies, the Ethereum treasury company chaired by Tom Lee, has increased its Ethereum purchases after a powerful rally in ETH.
The company purchased approximately 32,447 ETH, worth around $81 million at a price near $2,500 per ETH. This marks Bitmine’s largest weekly Ethereum purchase since early July.
Following the latest acquisition, Bitmine’s Ethereum holdings have grown to approximately 5.85 million ETH, with the total stash valued at roughly $14.6 billion at current prices.
Bitmine is now holding around 4.8% of Ethereum’s total supply. The company has previously set an ambitious goal of owning approximately 5% of all ETH.
With Ethereum’s total supply at around 120.7 million tokens, Bitmine would need approximately 6.04 million ETH to reach that target. The company is therefore about 187,000 ETH short.
Tom Lee Sees More Potential
The increased buying comes as Ethereum has gained approximately 30% in a single week, attracting renewed attention from investors.
Tom Lee believes the recent rally could potentially be the beginning of a much larger move.
He highlighted two previous occasions when Ethereum gained more than 30% in one week. According to Lee, ETH later recorded gains of approximately 167% after the July 2021 rally and around 170% following a similar move in May 2025.
However, past performance does not guarantee that Ethereum will repeat those gains.
Lee believes several broader trends could support Ethereum, including easier financial conditions, Wall Street’s growing interest in tokenizing assets, and the potential use of blockchain networks by AI agents.
He also expects these developments could help Ethereum gain ground against Bitcoin over time.
Bitmine Immersion Technologies, the Ethereum treasury company chaired by Tom Lee, has increased its Ethereum purchases after a powerful rally in ETH.
The company purchased approximately 32,447 ETH, worth around $81 million at a price near $2,500 per ETH. This marks Bitmine’s largest weekly Ethereum purchase since early July.
Following the latest acquisition, Bitmine’s Ethereum holdings have grown to approximately 5.85 million ETH, with the total stash valued at roughly $14.6 billion at current prices.
Bitmine is now holding around 4.8% of Ethereum’s total supply. The company has previously set an ambitious goal of owning approximately 5% of all ETH.
With Ethereum’s total supply at around 120.7 million tokens, Bitmine would need approximately 6.04 million ETH to reach that target. The company is therefore about 187,000 ETH short.
Tom Lee Sees More Potential
The increased buying comes as Ethereum has gained approximately 30% in a single week, attracting renewed attention from investors.
Tom Lee believes the recent rally could potentially be the beginning of a much larger move.
He highlighted two previous occasions when Ethereum gained more than 30% in one week. According to Lee, ETH later recorded gains of approximately 167% after the July 2021 rally and around 170% following a similar move in May 2025.
However, past performance does not guarantee that Ethereum will repeat those gains.
Lee believes several broader trends could support Ethereum, including easier financial conditions, Wall Street’s growing interest in tokenizing assets, and the potential use of blockchain networks by AI agents.
He also expects these developments could help Ethereum gain ground against Bitcoin over time.
