Bitmine Immersion Applied sciences , the most important Ethereum treasury agency, bought one other 27,562 ether last week, maintaining its steady buying as Chairman Tom Lee argued institutional investors remain underexposed to crypto.
The purchase was worth about $75.2 million at Monday’s ether price of $2,727, lifting Bitmine’s holdings to 5,983,940 ETH. That’s about 4.9% of the token’s 122.1 million supply, keeping the company close to its goal of owning 5%.
The firm has been buying at a similar pace in latest weeks and, at that price, may attain its accumulation objective within the subsequent couple of months. The corporate stated it bought ether each week since June 2025, when it pivoted to a crypto treasury technique.
Bitmine has staked about 5 million ETH, roughly 85% of its holdings, and projected a staking income of roughly $357 million yearly at present yields.
Bitmine shares had been 5.8% larger pre-market, extending Friday’s 8% rally as ETH surged in a single day to a recent excessive since late January.
Tom Lee sees year-end catch-up for crypto
Tom Lee, in the meantime, stated institutional traders could also be enjoying catch-up after favoring synthetic intelligence-linked shares earlier within the yr.
