Bitmine adds $68 million in ether as Tom Lee sees more upside catalysts ahead
Bitmine has increased its Ethereum holdings by $68 million as part of a weekly treasury strategy. Market analyst Tom Lee suggests that Ethereum's role in AI and Wall Street tokenization, alongside potential legislative developments, points toward future price growth.
Why it matters
The report underscores the institutionalization of cryptocurrency and its increasing integration into traditional financial and AI-driven infrastructure.
The haul was worth roughly $68 million at Monday’s ether price of just above $2,500 and brought the company’s stash to 5,956,378 ETH. With ether’s supply at about 122 million tokens, Bitmine needs roughly another 144,000 ETH to hit the 6.1 million mark, putting its target within sight if it keeps the acquisition pace.
Bitmine’s buying held at about the same pace as the week before . The company has now added ether every week since kicking off its Ethereum treasury strategy in June 2025.
The steady buying comes as Tom Lee, chairman of Bitmine and founder of Fundstrat, pointed to several reasons for ETH to gain ground heading into the final months of the year.
One is ether’s relative strength against bitcoin. Lee said the ETH-BTC ratio climbed to its highest level since Jan. 30 and broke above a downtrend that had been in place since 2022.
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