Tom Lee's Bitmine Buys $131M of ETH in Largest Ethereum Purchase Since June

In brief

• Bitmine bought 53,501 ETH (~$131 million), its largest weekly purchase since June, raising its holdings to 5,901,112 ETH—4.9% of supply and 98% of the way to its "Alchemy of 5%" goal.
• The buy extends a 65-week streak since the treasury strategy launched in June 2025; total holdings, including cash and other assets, hit $15.6 billion.
• Bitmine remains the largest ETH treasury and No. 2 crypto treasury behind Strategy, with 86% of its ETH staked via MAVAN for ~$335 million in projected annual revenue.

Bitmine Immersion Technologies picked up the pace of its Ethereum buying last week, acquiring 53,501 ETH worth roughly $131 million as chairman Tom Lee touts crypto's strong third quarter.

The NYSE-listed company said Monday its Ethereum stash now stands at 5,901,112 ETH, valued at about $14.8 billion using a reference price of $2,511 per coin. That represents 4.9% of Ethereum's total supply of 120.7 million tokens, leaving Bitmine, in its words, 98% of the way toward its goal of controlling 5% of the network, a target it calls the "Alchemy of 5%."

The purchase extends an unbroken run of accumulation. Bitmine has bought Ethereum every week since launching its treasury strategy on June 30, 2025, a streak that now spans 65 weeks even as some recent buys had slowed to smaller sums.