SKN | Tom Lee’s Bitmine Buys $81 Million of ETH as Ethereum’s 30% Rally Gains Institutional Momentum

Key Points:

• Bitmine bought 32,447 ETH worth approximately $81.2 million last week, its largest weekly Ethereum purchase since early July.
• The treasury firm now holds nearly 5.85 million ETH valued at about $14.6 billion, representing roughly 4.8% of Ethereum’s total supply.
• Tom Lee argues that Ethereum’s 30% weekly gain could signal the beginning of a larger move, citing similar rallies in 2021 and 2025.
• Bitmine has staked approximately 87% of its ETH holdings, creating an additional yield component for its treasury strategy.

Bitmine Immersion Technologies has accelerated its Ethereum accumulation, purchasing 32,447 ETH worth approximately $81.2 million during the past week as ether advanced about 30%. The transaction represents the treasury firm’s largest weekly acquisition since early July and comes as chairman Tom Lee argues that Ethereum’s latest rally could develop into a broader market move.

The purchase is significant because corporate crypto treasuries are becoming an increasingly visible source of structural demand. Bitmine’s strategy also highlights how institutional exposure to Ethereum is evolving beyond simple price appreciation, combining large-scale accumulation with staking and a longer-term objective of controlling a meaningful share of the network’s supply.

Bitmine Moves Closer to Its 5% Ethereum Target

Following last week’s purchase, Bitmine holds 5,847,611 ETH, valued at approximately $14.6 billion at current prices. The company’s holdings represent roughly 4.8% of Ethereum’s 120.7 million-token supply, leaving it about 187,000 ETH short of its stated goal of controlling 5% of the network.

The latest acquisition also continues a strategy that began in June 2025. According to Lee, Bitmine has added ETH every week since launching its Ethereum treasury program, although its purchasing pace had moderated as the company moved closer to its 5% objective.

At around $2,500 per ETH when the latest purchase was reported, the $81.2 million transaction represents a substantial deployment of corporate capital into a single digital asset. For the broader market, recurring treasury purchases can potentially reduce immediately available supply while reinforcing institutional confidence in Ethereum’s long-term role.

Tom Lee Sees Another Major Move Ahead

Lee’s increased purchasing coincides with a sharp improvement in Ethereum’s price momentum. ETH gained approximately 30% in one week, prompting Lee to compare the move with two previous instances when Ethereum posted weekly gains above 30%.

According to Lee, Ethereum subsequently gained 167% after a similar rally in July 2021 and another 170% following a comparable move in May 2025. Those historical comparisons do not establish a forecast, but they illustrate why the current momentum has attracted attention from institutional market participants.

Lee also identified several potential structural drivers, including easier financial conditions, Wall Street’s push toward tokenized assets and the potential use of blockchain infrastructure by AI agents. He believes these developments could support Ethereum and potentially allow ETH to gain ground relative to Bitcoin.

Staking Adds Another Dimension to the Treasury Strategy

Bitmine’s strategy extends beyond accumulation. The company has staked approximately 5.07 million ETH, or 87% of its holdings, allowing a substantial portion of its treasury to participate in Ethereum’s proof-of-stake network.

At current yields, Bitmine projects approximately $330 million in annualized staking revenue. This makes the treasury model materially different from simply holding ETH on a balance sheet, because the company is attempting to generate additional network-based revenue while maintaining exposure to the underlying asset.

Looking ahead, investors will watch Bitmine’s progress toward its 5% target, Ethereum’s ability to sustain its recent momentum, staking economics and institutional demand. The scale of Bitmine’s holdings means its future purchases and treasury decisions could remain an important signal of corporate conviction, while Ethereum’s ability to translate recent price strength into sustained network activity will ultimately determine whether the latest rally represents a durable shift or another period of heightened volatility.