BitMine's Ethereum Treasury Nears $7.2 Billion with Latest $45 Million ETH Purchase Led by Tom Lee

BitMine, the investment firm chaired by prominent Wall Street strategist Tom Lee, has further solidified its position as the world's largest corporate holder of Ethereum (ETH) with a recent acquisition of $45 million worth of the cryptocurrency. This latest purchase brings BitMine's total Ethereum holdings to approximately $7.19 billion, as initially reported by blockchain analytics firm Arkham. The company's continued accumulation underscores a strong institutional conviction in Ethereum's long-term growth and utility.

The recent $45 million investment added nearly 9,500 ETH to BitMine's treasury, which now controls roughly 1.518 million ETH. This aggressive accumulation strategy has proven highly profitable, with the firm sitting on an estimated $1.9 billion in unrealized gains from earlier acquisitions, made at an average entry price of $3,492 per token. Tom Lee has previously stated BitMine's ambitious goal to acquire five percent of the total Ethereum supply, positioning the company as the "MicroStrategy of Ethereum."

BitMine's confidence in Ethereum is rooted in the network's robust fundamentals and recent advancements. Ethereum Layer 1 has recorded all-time highs in both daily transactions and active addresses, while gas fees remain near historical lows. This combination of increased usage and cost efficiency is attributed to successful scaling initiatives, making Ethereum an increasingly attractive platform for decentralized applications and institutional adoption.

The firm's actions reflect a broader shift in institutional investment, with a growing number of major players, including ARK Invest, Founders Fund, and Galaxy Digital, backing BitMine. This trend indicates a rising belief that Ethereum will serve as a foundational layer for future finance, moving beyond its initial perception as merely a technological asset. Analysts suggest this institutional demand could drive ETH prices towards new highs, with some forecasts reaching $5,500 and even $15,000.

"TOM LEE JUST BOUGHT $45 MILLION OF $ETH BITMINE HOLDS $7 BILLION USD OF ETHEREUM AND THEY’RE STILL BUYING," stated Arkham in a social media post, highlighting the ongoing nature of BitMine's investment strategy. The continuous buying signals a long-term commitment to Ethereum, reinforcing its role as a core holding in institutional portfolios.