BitMine buys $240 million in Ethereum amid rising prices

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BitMine Immersion Technologies, led by Tom Lee, purchased $240 million worth of Ethereum in its third consecutive weekly buy exceeding 100,000 ETH. The move coincides with Ethereum's continued price rise and Bitcoin hitting $80,000 for the first time since January. Meanwhile, Strategy skipped a Bitcoin purchase as BTC reached this milestone.

Tom Lee's BitMine Immersion Technologies announced its latest Ethereum acquisition, valued at $240 million, as reported by Decrypt. This marks the firm's third straight weekly buy surpassing 100,000 ETH, with the cryptocurrency showing upward momentum. Lee heralded the development as the arrival of 'Crypto Spring.'

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Illustration of Tom Lee announcing potential slowdown in Ethereum purchases by Bitmine at a Miami conference.
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Bitmine may slow ethereum purchases as goal nears, tom lee says

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Bitmine Immersion Technologies is considering slowing its purchases of ether after rapidly accumulating a large stake in the cryptocurrency. Chairman Tom Lee made the remarks during a keynote at Consensus 2026 in Miami on Thursday. The firm has amassed over 5.1 million ETH valued at approximately $11.9 billion.

BitMine purchases $90 million in Ethereum amid bearish sentiment

BitMine Immersion Technologies acquired 45,759 ether last week, valued at over $90 million, increasing its total holdings to more than 4.37 million tokens. The company's chairman, Tom Lee, compared current crypto market sentiment to the lows of 2018 and 2022, yet highlighted Ethereum's potential in tokenization and AI. Despite paper losses nearing $8 billion, BitMine continues its buying strategy.

BitMine acquires 10,000 ETH from Ethereum Foundation in second weekly treasury deal

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BitMine Immersion Technologies bought 10,000 ETH from the Ethereum Foundation for $23 million in an over-the-counter transaction at $2,292.15 per ETH. This follows a similar sale the prior week and a March deal, with proceeds supporting Ethereum operations, R&D, ecosystem grants, and community initiatives.

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