Bitmine buys 45,000 Ethereum in two days: details

Ethereum network transactions tracked by the Lookonchain platform show that Bitmine Immersion Technologies, led by well-known investor Tom Lee, conducted a rapid recovery of Ethereum (ETH) in just two days, during which it purchased 45,000 ETH, worth approximately $89 million.

Data shows that the company first added 35,000 ETH, worth more than $69 million, in two separate transactions, and then purchased an additional 10,000 ETH, worth about $19.5 million, on Thursday to increase its holdings.

The move is part of Bitmine’s goal to own 5% of the total supply of Ethereum.

Since Fundstrat Global Advisors founder Tom Lee took over as chairman of the company’s board of directors in June 2025, Bitmine has shifted its strategy from Bitcoin mining to an Ethereum vault model, similar to what Strategy did with Bitcoin.

According to the latest data, the company holds approximately 4.4 million ETH, equivalent to 3.6% of the total supply, of which more than 3 million ETH are pledged.

Its storage solution “MAVAN” is also expected to be launched this quarter.

With a holding of this size, Bitmine ranks among the top ethereum financial companies, ahead of the likes of SharpLink, Bit Digital, and Coinbase, as Ethereum continues to solidify its position as the most prominent infrastructure for smart contracts and decentralized finance, with the development of stablecoins and tokenized assets driving growth in institutional interest.

Also read:

Cryptocurrency hackers change tactics in 2025: Steal funds fast, launder money slowly

$730 Billion Evaporated in 100 Days: Why Are Altcoins Crash Faster Than Bitcoin?