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.
In brief
- Bitmine bought 53,501 ETH, or 131 million dollars last week, its biggest weekly acquisition since June.
- Bitmine remains the largest ETH treasury worldwide and the second largest crypto treasury behind Strategy, with a total treasury of 15.6 billion dollars.
- On Milk Road, Tom Lee predicts a return of the ETH/BTC ratio to 0.08, betting on tokenization, agentic AI, and the arrival of traditional finance.
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.
Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Avalanche Price Prediction November 2026: Can AVAX Break $9.03?
US CPI Exceeds Expectations Again, Waller's Warning Comes True! Wall Street Focuses on Whether December Rate Hike Will Be 25 or 50 Basis Points; "New Fed News Agency": Stop-and-Go Strategy Faces Test
The "New Federal Reserve Newsletter" pointed out that before the release of the CPI, Waller suggested the possibility of a 50-basis-point rate hike in December, and so far, no other Fed officials have publicly responded. In addition to a single 50-basis-point hike, the Fed may also choose to signal consecutive rate hikes in December and January. Wall Street generally believes that inflationary pressures remain stubborn, further strengthening the case for a rate hike in December, though a 50-basis-point increase is not a consensus. The market is concerned about whether the Fed will extend the tightening cycle.
CPI Deals a Blow to US Bonds! 2-Year Yield Surges Over 20 Basis Points Intraday, Gold and Silver Plunge
After the release of the CPI, traders began to expect a lower likelihood of a 50 basis point rate hike in December; this year’s Federal Reserve voting member Logan stated that a faster pace of rate hikes may be needed this winter, with at least two more 25 basis point hikes required before pausing. Subsequently, the rise in U.S. Treasury yields continued to widen, with the 10-year yield climbing back above 5.0% and rising more than 10 basis points intraday; spot gold once fell over 3%, while spot silver at one point dropped more than 4%.
Historical Data Reveals When XRP Could Peak This Cycle
Crypto prices
More
