Tom Lee's BitMine holds the position as the world's top corporate Ethereum holder.
Ethereum News
BitMine acquired $140.58 million worth of Ethereum (ETH) on Tuesday, buying 48,049 tokens from a FalconX hot wallet, according to on-chain analysts EmberCN and Lookonchain citing Arkham data. The Ethereum treasury firm led by Fundstrat co-founder Tom Lee has not officially confirmed the transaction.
The NYSE American-listed company disclosed Monday it holds 3,967,210 Ethereum purchased at an average price of $3,074 per token. Current market prices value the treasury holdings at approximately $11.6 billion.
BitMine bought 240,711 Ethereum during the first two weeks of December despite ongoing market weakness. The company maintains its long-term objective to secure 5% of the total circulating Ethereum supply.
Lee said in Monday's disclosure that the best days for crypto lie ahead. He pointed to legislative progress in Washington and rising Wall Street support as positive developments throughout 2025.
The latest purchase came as Ethereum fell below the $3,000 level. Ether currently trades at $2,926, up 0.24% in the past 24 hours but down 12% over the past week.
BitMine stock closed up 1.42% on Tuesday at $31.39, with shares rising 551.24% over the past six months. The company holds the position as the world's top corporate Ethereum holder.
The firm has executed an aggressive acquisition strategy throughout the year, consistently buying Ethereum regardless of price movements. BitMine reaffirmed its commitment to Ethereum's expanding influence in global finance.
Chairman Lee's bullish stance contrasts with recent market conditions as crypto prices experience volatility. The company's continued purchases signal confidence in long-term Ethereum value appreciation despite near-term price fluctuations.
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