BitMine's Tom Lee Buys $130M ETH Amid Market Dip
BitMine, under the leadership of Tom Lee, has significantly increased its Ethereum holdings, capitalizing on a recent market downturn.
BitMine Increases ETH Stake to $5.26B
According to data from Arkham Intelligence, initially shared by Lookonchain on X, BitMine acquired an additional 28,650 ETH, valued at $130 million. This purchase boosts BitMine's total Ethereum holdings to 1.174 million ETH.
At current market prices, this ETH stockpile is estimated to be worth approximately $5.26 billion, solidifying BitMine's position as a major player in the Ethereum ecosystem.
Blockchain data indicates that the transaction was executed via over-the-counter (OTC) addresses before being transferred to BitMine's WalletSimple storage system.
Bitmine(@BitMNR) bought another 28,650 $ETH($130M) in the past hour, currently holding 1.174M $ETH($5.26B).https://t.co/P684j5YQaG pic.twitter.com/ldrGp3Yecv
— Lookonchain (@lookonchain) August 15, 2025
This strategic acquisition during a market correction suggests BitMine's long-term confidence in Ethereum's potential. Tom Lee, known for his bullish crypto outlook, appears to be leveraging price dips to expand BitMine's ETH portfolio.
The on-chain data indicates a series of significant ETH transfers into BitMine wallets within a short timeframe, suggesting a coordinated purchasing effort. This rapid increase in Ethereum exposure aligns with BitMine's investment strategy of acquiring digital assets during temporary price declines. OTC purchases of this magnitude allow for substantial accumulation without causing market disruption.
As of this writing, BMNR is trading at $57.81, a 4.37% decrease from its previous value of $60.45. However, BMNR has seen gains of 34.01% over the past five days and 20.74% in the last month.
ETH Shows Gains in the Long Term Amid Daily Price Crash
This accumulation occurred amidst a downturn in Ethereum's price. The current ETH price is $4,394, a 3.45% decrease in the last 24 hours from its previous close of $4550.9.
Sell pressure caused a rapid price drop after reaching around $4,640. Despite this, Ethereum remains up 12.22% over the past week, with monthly gains of nearly 40%.
Ethereum's recent performance is strong relative to its history. ETH has increased by 31.77% year-to-date and 62.94% in the last six months. Over the past five years, the asset has increased by over 900%, highlighting significant gains for long-term holders.
