Ethereum: Bitmine Purchases 53,501 More ETH After Selling 131 Million Dollars

Bitmine never lets up and the company has just proven it once again. The company led by Tom Lee just signed its biggest week of Ethereum (ETH) purchases since June 2026, with 131 million dollars.

The Ethereum Machine is Restarted by Bitmine, a 131 Million Dollar Purchase

53,501 ETH, or about 131 million dollars, is exactly what Bitmine swallowed last week. Marking its biggest weekly Ethereum purchase since June 2026. Enough to boost its treasury to 5.9 million ETH, or 4.9% of the total supply of the crypto network. Only about 2% more acquisition remains for Bitmine to finally hold 5%. A drop in the bucket for a company like Tom Lee’s.

Especially since 86% of ETH held by Bitmine is staked on MAVAN for about 335 million dollars in projected annual revenue. So, even without lifting a finger, Bitmine earns cash. To date, Bitmine is the largest Ethereum (ETH) treasury on the market and the second largest crypto treasury behind Strategy, Michael Saylor’s Bitcoin war machine. Speaking of Saylor, he also broke his two-month pause this week, buying back 370 million dollars worth of BTC.

Tom Lee Takes Out the Crystal Ball in Crypto

As if accumulation wasn’t enough, Tom Lee just dropped a rather bold prediction. According to him, the ETH/BTC ratio should continue its rise, aiming at least for its former high of 0.08! For the next five years, his vision boils down to three words: 

• Tokenization;
• Agentic AI;
• Traditional finance migrating onchain. 

For Tom Lee, a good part of this wave will land directly on Ethereum. Which would be all profit for him since he still holds 4.9% of the circulating ETH supply, and has built his entire economic model around it. Moreover, since late June, Ethereum (ETH), Bitcoin (BTC), and Solana (SOL) have been the three best performers in the crypto market. With ETH outperforming the S&P 500 by over 5,400 basis points this quarter, there are enough arguments to push institutions to increase their crypto exposure.

Between Bitmine’s treasury swelling week after week and Tom Lee’s accompanying storytelling, one thing is for sure, Bitmine does not intend to stop anytime soon and aims to surpass 5% of Ethereum (ETH). The question remains if the crypto market will keep pace.