BitMine buys 28,086 ETH amid Tom Lee’s bullish outlook

BitMine Immersion Technologies has purchased 28,086 ETH worth about $70.1 million, raising its Ethereum treasury to 5.93 million tokens as Chairman Tom Lee predicts further gains for the asset. Summary BitMine acquired 28,086 ETH last week, lifting its holdings to 5,929,198 tokens. The company now owns 4.9% of Ethereum’s estimated 122 million-token supply. More than 5.06 million ETH is staked, with projected annual revenue of $330 million. Tom Lee cited U.S. crypto legislation, tokenization, and blockchain-based AI as possible market catalysts. BitMine’s Ethereum treasury has reached 5.93 million ETH BitMine said in a Sep. 8 treasury update that it held 5,929,198 ETH as of Sep. 7, following the purchase of 28,086 tokens during the previous week. Using the company’s reference price of $2,495, the latest acquisition was worth approximately $70.1 million. Its entire Ethereum position carried a value of about $14.79 billion at the same price, although the balance-sheet value will change alongside ETH. “Over the past week, we acquired 28,086 ETH,” Lee said. The purchase extended a run that began when BitMine adopted its Ethereum treasury strategy on June 30, 2025. According to Lee, the ...