Summary
- Bitmine acquired 27,180 ether during the previous week, valued at approximately $68 million based on Monday’s valuation.
- The firm currently holds 5.96 million ETH, leaving it approximately 144,000 tokens away from its objective to secure 5% of the total Ethereum supply.
- Tom Lee highlighted the advancing ETH-BTC ratio nearing the end of a four-year downward trend, alongside prospective American digital asset regulations as potential catalysts for demand.
Bitmine BMNR$25.41, the principal Ethereum-centric digital asset treasury organization, announced on Monday that it purchased an additional 27,180 ether ETH$2,513.11 over the past week, bringing the organization closer to its goal of accumulating 5% of the cryptocurrency’s entire circulation.
This recent acquisition was worth roughly $68 million at Monday’s ether price of slightly above $2,500, elevating the corporation’s total reserve to 5,956,378 ETH. Considering the total supply of ether sits near 122 million tokens, Bitmine requires about 144,000 more ETH to attain the 6.1 million threshold, placing its objective within reach if current purchase speeds are sustained.
Bitmine’s purchasing velocity remained consistent with the pace recorded the preceding week. The corporation has continuously added to its ether holdings every single week since launching its Ethereum treasury strategy back in June 2025.
This consistent accumulation occurs as Tom Lee, Bitmine chairman and Fundstrat founder, identified several factors supporting ETH price appreciation as the year enters its final months.
One primary driver is ether’s growing strength relative to bitcoin. Lee noted that the ETH-BTC ratio advanced to its peak level since January 30, successfully breaching a downward trendline that persisted since 2022.
“The price ratio of ETH to BTC moved to the highest level since Jan 30th of this year and established a new uptrend,” Lee stated. “In our view, this reflects Ethereum’s strengthened position as the settlement rails for Wall Street tokenization and the increased realization that Ethereum may play a critical central role in managing agentic-AI.”
Lee also referenced an upcoming Senate vote concerning American cryptocurrency market-structure legislation, widely recognized as the Clarity Act, which was scheduled for Tuesday, alongside renewed purchasing interest from Korean investors.
Originally published at https://www.coindesk.com/business/2026/09/14/bitmine-adds-usd68-million-in-ether-as-tom-lee-sees-more-upside-catalysts-ahead.
