Bitmine Executes Biggest Ether Buy Since June While Tom Lee Highlights Robust Q3 for Crypto

Bitmine Immersion Technologies increased its accumulation of ether for a second consecutive week, acquiring 53,501 tokens while Chairman Tom Lee highlighted that the digital asset’s robust third-quarter performance could attract institutional participants.

This acquisition, valued near $131.3 million based on Monday’s ether price of $2,455, succeeded the prior week’s purchase of 32,447 ETH and brought Bitmine’s total reserve to 5,901,112 ETH, an amount valued at approximately $14.5 billion at present market rates.

This new activity represents a change from earlier in the summer season, when Bitmine decelerated its buying pace while nearing its internal target to secure 5% of the overall Ethereum supply, causing weekly acquisitions to drop under 10,000 ETH on multiple occasions during July and August.

Bitmine currently controls roughly 4.9% of the 120.7 million circulating Ethereum tokens, meaning the 5% objective sits near 6.04 million ETH and leaves the enterprise roughly 134,000 tokens away from the milestone.

Strong start of Q3

The renewed accumulation follows a solid period for digital asset markets, with ether surging 55% during August and bitcoin climbing 34%, easily surpassing traditional U.S. equity benchmarks.

Lee stated that this dynamic creates an environment for financial institutions to expand their digital asset allocations given the significant outperformance of crypto compared to alternative macro assets throughout the third quarter so far.

Lee additionally mentioned an upcoming U.S. market-structure legislative vote expected in September alongside revived cryptocurrency interest from South Korean market participants as potential drivers for the remainder of the year, while anticipating that real-world asset tokenization and blockchain utilization by artificial intelligence agents will bolster Ethereum over a more extended timeframe.

Bitmine has now purchased ETH across 65 straight weeks since introducing its Ethereum treasury initiative back in June 2025.

Furthermore, the organization has staked approximately 5.07 million ETH, representing 86% of its aggregate balance, and anticipates generating roughly $335 million in annual staking earnings at prevailing yields.