Ethereum (ETH) Price: BitMine Drops $81M on ETH and Tom Lee Says the Rally May Just Be Starting
TLDR
- BitMine bought 32,447 ETH last week, worth ~$81 million, bringing total holdings to 5.847 million ETH
- ETH posted a 30% weekly gain, its biggest since May 2025
- BitMine Chairman Thomas Lee pointed to past 30% rallies that led to 167% and 170% gains
- US spot ETH ETFs saw $697 million in net inflows last week, their best week since October
- ETH is trading above $2,400 but RSI at 79 signals overbought conditions
Ethereum treasury firm BitMine Immersion Technologies (BMNR) bought 32,447 ETH last week, its biggest weekly purchase since early July. At Monday’s price of around $2,500, the buy was worth roughly $81 million.
The purchase pushed BitMine’s total ETH holdings to 5,847,611 tokens, valued at approximately $14.6 billion. The firm now holds about 4.8% of Ethereum’s total supply of 120.7 million tokens.
BitMine has added ETH every week since launching its Ethereum treasury strategy in June 2025. Its self-imposed target is 5% of total supply, which would require around 6.04 million ETH. That leaves the firm about 187,000 tokens short of the goal.
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