BitMine, the Ethereum-focused firm led by Tom Lee, has further expanded its ETH holdings with a $45 million purchase. The acquisition added about 9,500 ETH at a price of $4,735 per token. With this, BitMine now controls 1.518 million ETH, worth approximately $7.19 billion.
The firm’s entry price across earlier purchases averaged $3,492, leaving it with $1.9 billion in unrealized profits. Despite the latest buy being at near-peak levels, BitMine’s strategy reflects a long-term commitment to Ethereum’s ecosystem.
Ethereum itself is witnessing record-breaking transaction activity and active addresses, fueling confidence among institutional players. BitMine’s growing position highlights its role as the world’s largest ETH treasury, reinforcing how accumulation strategies can yield massive returns when paired with conviction.
Tom Lee’s decision to expand holdings even at higher prices underscores the belief that Ethereum’s true growth potential remains ahead. This sustained institutional support may continue to drive market stability and growth.
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