Tom Lee Ethereum Purchase: Bitmine Bets $389M Amid Ethereum Fall

Tom Lee Ethereum Purchase Expands Bitmine Ethereum Treasury Holdings

Publicly traded ethereum treasury company Bitmine Immersion Technologies (BMNR), chaired by veteran market strategist Tom Lee, has just made another massive ETH purchase, According to the Arkham’s latest data, Tom Lee Ethereum Purchase added 11,288 ETH in Bitmine over the past week, worth roughly $389.3 million at current prices. 

Source: Arkham

This brings the first’s total Ethereum holdings to over 3.5 million ETH, valued at around $12.4 billion, cementing its position as the world’s largest Ethereum-treasury company. In addition it also presents its tenacious confidence in the assets despite its price staggeration. 

Bitmine’s Growing Ethereum-Dominance

With this latest acquisition, Bitmine-immersion now holds around 2.9% of ethereum’s total supply, inching closer to its goal of owning 5% of the total circulation. The company’s holdings far outpace second-ranked SharpLink Gaming, which holds just over$3 billion in ETH, and make Bitmine the second largest overall crypto treasury globally, behind only Strategy, known for its massive Bitcoin reserve worth nearly $68 billion.

Bitmine’s growing portfolio highlights its conviction in Ether’s long-term fundamentals, including scalability improvements, staking rewards, and institutional-grade security. 

Market Impact – Bitmine's Stock Reacts Positively

BMNR shares price on Monday,  jumped 5%, closing at $42.20, while after-hours trading saw it rise further to $41.85 (+1.7%). Even though the stock remained down nearly 20% over the last month, investors view Lee’s purchase as a bullish signal for both Ether and firm’s treasury backed valuation. 

Source: Google Finance

Bitmine’s market cap now stands at $11.72 billion. The company’s expansion in Ethereum-holding may further strengthen its stock performance, especially if ETH rebounds above the $3,600 level.   

Ethereum Price Performance: Reason for Fall and Hopes

ETH is currently trading around $3,578, observing a 0.9% down in 24 hours metrics, showing its weeks of volatility. The cryptocurrency remains low nearly 15% over the past two weeks. Key reasons for these are likely to be pressure from ETF outflows, leveraged liquidations, and profit-taking, where failure to sustain momentum above $3,650 triggered short term bearish sentiments. 

However, signs of resilience are also here. Whale’s confidence in the asset, U.S. approval to ETH-ETF, and the upcoming Ethers Fusaka Upgrade, could push the recovery toward the $4,000 mark in early 2026 if buying momentum returns. 

Conclusion: Why Lee Bought the Dip and What’s Next

Despite Ethereum’s recent decline, Tom Lee’s “buy the dip” strategy stands out as a strong vote of confidence. Ether’s Price has struggled amid broader market weakness and heavy derivative liquidations. 

“The recent dip in ETH-prices presented an attractive opportunity, and Bitmine-immersion increased its ETH purchase this week,” said Lee in a company statement. 

Lee’s timing aligns with expectations that Ether could rebound as U.S. macro uncertainty eases and institutional adoption continues to grow. For Bitmine, maintaining its accumulation pace could position it as the dominant institutional player in Ethereum’s ecosystem.