Tom Lee’s BitMine Deepens Ethereum Bet With Fresh Eight-Figure Buy

BitMine, the Ethereum-focused treasury company chaired by Fundstrat co-founder Tom Lee, appears to have expanded its crypto war chest with another sizable ether purchase. Blockchain tracking data suggests the firm picked up roughly $88 million worth of ETH on Monday, continuing a year-long accumulation streak that has made it the largest corporate holder of the asset.

According to onchain analytics cited by Lookonchain, BitMine moved 29,462 ETH from custodial and exchange wallets linked to BitGo and Kraken. While the company has not publicly confirmed those specific transfers, it did report earlier this week that it acquired 98,852 ETH over the previous week.

Following those purchases, BitMine now holds more than 4 million ETH, accumulated at an average price just under $3,000 per coin. At current market levels, the firm’s Ethereum treasury is valued at approximately $12 billion, underscoring the scale of its conviction.

The company has framed its aggressive strategy as a long-term play on Ethereum’s role in the future of finance. BitMine has repeatedly stated its ambition to control 5% of ETH’s circulating supply, positioning itself as a bridge between traditional capital markets and blockchain-based infrastructure such as tokenization and decentralized finance.

Despite the bullish accumulation, markets were muted on Monday. BitMine’s shares slipped 0.86% to close at $31.09, while ether declined about 2.5% over the past 24 hours, trading near $2,950.