Tom Lee’s BitMine Ramps Up ETH Plans With Fresh $150M Buy as Fusaka Upgrade Lands

05. Dec 2025 Posted by Laurent C. on News

BitMine — the Ethereum-focused treasury firm led by Fundstrat co-founder Tom Lee — executed another major purchase on Wednesday, adding roughly $150 million in ETH as part of its long-term accumulation strategy.

Onchain analytics from Arkham flagged two large inflows to BitMine-linked wallets: 18,345 ETH routed via BitGo and 30,278 ETH through Kraken. While the firm has not officially confirmed the transactions, they align with its increasingly aggressive buying behavior throughout 2025.

A Relentless Accumulation Strategy

BitMine has continued to accumulate Ethereum through market volatility, including November’s downturn. In the final week of that month alone, the company scooped up 96,798 ETH, pushing its overall holdings to more than 3% of Ethereum’s circulating supply.

The firm has repeatedly stated its ambition: to control 5% of all ETH in existence, positioning Ethereum as the core asset in its financial infrastructure thesis.

Contrast With Other Digital Asset Treasuries

While BitMine builds its stake, other digital asset treasuries have cooled off. Bitwise data shows that Ethereum DATs bought around 370,000 ETH in November, an 81% drop from the 1.97 million ETH surge seen in August. BitMine’s conviction — and pace — now stands out sharply against the sector.

Lee’s Bullish Catalysts: Fusaka + Fed Policy

Tom Lee continues to project strong near-term upside for ETH. In his Dec. 1 analysis, he pointed to the Fusaka upgrade—which went live earlier today—as a major unlock for Ethereum’s scalability and financial-sector adoption.

He also highlighted a critical macro factor: the Federal Reserve’s planned end of quantitative tightening, which he believes could strengthen risk assets, including crypto.

Lee maintains an ETH price target of $7,000–$9,000 by January 2026, far above today’s $3,215, which is already up 5.7% on the day.

Market Response

BitMine’s stock reflected some of the optimism, closing up 5.48% at $33.66 on Wednesday, though it remains down 21.47% over the past month.

As the race for Ethereum’s future role in global finance accelerates, BitMine appears determined to lead — with its accumulation plans showing no signs of slowing.