Bitmine buys more ether as Tom Lee says rising ETH/BTC ratio points to stronger crypto prices
Bitmine has increased its ether holdings to 4.8% of the total circulating supply, citing a positive ETH/BTC ratio as a signal for future price growth. The company continues its aggressive treasury strategy despite a slower pace of accumulation compared to earlier this year.
Why it matters
As a major institutional holder, Bitmine's accumulation strategy significantly influences market liquidity and investor sentiment regarding Ethereum's long-term value.
The company bought 9,946 ETH, worth about $19.4 million at current prices, up from 7,430 ETH the previous week, according to a Monday update. The purchase lifted Bitmine's holdings to 5,787,414 ETH ($11.2 billion), or about 4.8% of ether’s circulating supply.
Lee said Bitmine also increased its share repurchases, buying back 6.1 million shares, compared with 5.5 million a week earlier, under its $4 billion buyback authorization.
The latest purchase remains well below the company's buying pace earlier this year, when Bitmine routinely acquired tens of thousands of ETH each week. Even so, the company has continued adding to its treasury every week since launching the strategy in June 2025 and now owns roughly 4.8% of Ethereum's total supply, putting it within reach of its long-term goal of accumulating 5%.
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