Tom Lee’s BitMine Goes All-In: 208K ETH Purchase Pushes Treasury Past $3B Amid Ethereum Rally

Fundstrat’s crypto arm just doubled down—hard. BitMine’s latest 208,000 ETH grab screams institutional FOMO as Ethereum’s price surge turns treasury balances into telephone numbers.

The Whale Move Wall Street Missed

While traditional finance was busy downgrading Coinbase, Tom Lee’s team quietly stacked another $650M worth of Ether at sub-$3K prices. Now their war chest flaunts a $3B valuation—proof that crypto’s smart money ignores Fed whispers.

Treasury or Trading Desk?

With ETH up 40% in 30 days, BitMine’s holdings now rival mid-tier banks’ liquidity reserves. Either they’re prepping for Ethereum’s Shanghai upgrade…or they know something about ETF approvals that BlackRock’s lawyers don’t.

*‘Diversification’ is what fund managers call it when they panic-buy the dip.*

BitMine Accelerates Ethereum Push Just One Month Into New Strategy

BitMine’s latest accumulation highlights its aggressive entry into the ethereum space just over a month after the firm unveiled its ETH strategy.

“We have separated ourselves among crypto treasury peers,” Lee said in a statement, emphasizing the rapid pace at which the firm has raised its crypto net asset value per share.

“BitMine moved with lightning speed in its pursuit of the ‘alchemy of 5%’ of ETH.”

The firm’s acceleration puts distance between it and rivals like SharpLink Gaming, which holds 438,200 ETH worth $1.61 billion, and The Ether Machine, now at 345,400 ETH after a $40 million buy on the same day.

Rounding out the top five are the Ethereum Foundation (232,600 ETH) and PulseChain SAC (166,300 ETH), according to StrategicETHReserve data.

BitMine’s rise has been fueled by notable backing. Investors include billionaire Bill Miller III, macro veteran Stanley Druckenmiller, and ARK Invest’s Cathie Wood — all vocal advocates for long-term crypto exposure.

The firm’s positioning signals rising institutional conviction in Ethereum, which has outperformed in recent weeks while attempting to close the gap with leaders Bitcoin and Solana.

Lee told CNBC he expects further upside in August, citing soft labor data and a possible pivot in U.S. monetary policy.

He said signs of an easing Federal Reserve could lift both equities and crypto markets, potentially pushing the S&P 500 to new all-time highs — a move that WOULD likely benefit Ether.

“I think we’re going to rally pretty strongly in August,” says Tom Lee of @Fundstrat. “I think we can get to 6500, 6600 [on the S&P 500] and all-time highs in the next couple of weeks.”https://t.co/ZAsld9FqER

With its latest buy, BitMine is not just betting on price appreciation but also staking its claim as a dominant force in Ethereum treasury strategy, outpacing peers both in speed and size.

BitMine Launches $1B Buyback as ETH Holdings Top $2.3B

Last week, BitMine announced a $1 billion stock buyback program as its Ethereum holdings surged past 625,000 ETH, worth $2.3 billion, making it the largest corporate holder of Ethereum to date.

The open-ended repurchase plan comes amid BitMine’s larger goal of acquiring 5% of Ethereum’s total supply, a move it sees as part of a long-term capital strategy.

Chairman Tom Lee described the buyback as a flexible way to optimize capital allocation on the firm’s path toward what he calls “the alchemy of 5%.”

The announcement follows a massive ETH accumulation in July, including a single 16-day purchase of 566,776 ETH worth over $2 billion, vaulting BitMine past competitors like SharpLink and the Ethereum Foundation.

BMNR shares have skyrocketed over 3,000% since early July as investors react to the aggressive accumulation strategy.

The company’s stock options began trading on the NYSE last month, further boosting market engagement.