Tom Lee’s Bitmine Buys $81 Million of Ethereum in Biggest Weekly Purchase Since July

Bitmine Immersion Technologies ramped up its Ethereum buying last week, making its largest single-week purchase in nearly two months as the crypto’s price surged.

Bitmine’s ETH Purchase Details

The Ethereum treasury company, chaired by Tom Lee, bought 32,447 ETH last week, worth about $81 million at current prices. That brought Bitmine’s total holdings to 5,847,611 ETH, valued at roughly $14.6 billion. Bitmine stock rose 3.5% in pre-market trading as Ethereum climbed past $2,500. The company has now added ETH every single week since launching its treasury strategy in June 2025.

Closing In on 5% of Ethereum’s Supply

Bitmine’s holdings now represent about 4.8% of Ethereum’s 120.7 million token supply, leaving the firm roughly 187,000 tokens short of its self-imposed goal of owning 5% of all ETH. The company had slowed its buying pace in recent months as it neared that target, but picked things back up alongside Ethereum’s roughly 30% price jump over the past week.

Tom Lee Sees More Upside Ahead

Lee pointed to two past instances where ETH gained more than 30% in a week, which were followed by gains of 167% and 170% in the months after. He cited easier financial conditions, asset tokenization on Wall Street, and AI agent activity on blockchains as potential tailwinds. Bitmine has also staked 5.07 million ETH, about 87% of its holdings, generating an estimated $330 million in annual staking revenue.