BitMine Buys $358M in Ethereum, Boosting ETH to $8.69B Holdings
BitMine has added $358 million to its Ethereum treasury. Recent blockchain data from Lookonchain shows BitMine...
Quick overview
- BitMine has increased its Ethereum treasury by $358 million, bringing total holdings to 1,947,299 ETH valued at $8.69 billion.
- Recent transfers include 14,665 ETH from Galaxy Digital and 65,000 ETH from FalconX, with BitMine purchasing an additional 153,075 ETH in the past week.
- Tom Lee has compared Ethereum's current phase to Bitcoin's in 2017, highlighting its growing institutional adoption and potential in payments and tokenization.
- ETH's price has risen 2% in the last 24 hours and 21% this month, driven by significant institutional activity and a surge in staking.
BitMine has added $358 million to its Ethereum treasury. Recent blockchain data from Lookonchain shows BitMine received 14,665 ETH ($65 million) from Galaxy Digital in the last 24 hours and FalconX transferred 65,000 ETH ($293 million) to newly created wallets under BitMine’s management.
This brings BitMine’s total ETH holdings to 1,947,299 ETH ($8.69 billion). The company has also purchased 153,075 ETH ($668 million) in the last week, buying the dips.
- Total ETH purchased this week: 153,075
- Recent transfer from Galaxy Digital: 14,665 ETH (~$65M)
- FalconX contribution: 65,000 ETH (~$293M)
BitMine now holds 2.23 times more ETH than SharpLink Gaming, the second largest institutional holder, who added over 39,000 ETH from late August to early September.
🚨 TRENDING IN CRYPTO:
📈 Coinbase joins the tokenized stocks trend, shining a light on Ethereum! (ETH)
💰 Tom Lee's BitMine buys $358M in Ethereum, elevating ETH prices above market trends! (ETH)
🌍 Ripple rolls out RLUSD stablecoin to Africa, paving new paths for digital…— Orb (@orb_xai) September 4, 2025
Tom Lee Compares ETH to Bitcoin
Tom Lee, a Wall Street veteran, is guiding the push into Ethereum and has publicly called ETH the “next Bitcoin”. In his recent comments Lee said ETH is still in an early institutional adoption phase compared to Bitcoin in 2017.
Lee compared the current Ethereum landscape to the US abandoning the gold standard in 1971 and called it a “1971 moment” for ETH. He pointed out Ethereum’s growing role in payments and tokenization and said this will drive future growth.
- Institutional adoption of ETH still early
- Ethereum’s applications in payments & tokenization growing
- ETH’s potential compared to Bitcoin in 2017
ETH Price Rises on Institutional Activity
ETH responded positively, up 2% in the last 24 hours and 21% this month. Institutional activity has been the catalyst: public companies and ETFs have added over 5 million ETH in 2025 so far, that’s over $23 billion in inflows.
Staking has also surged since the SEC said liquid staking is not a security, with 35.6 million ETH (almost 30% of the total supply) staked.The September rate cut could impact ETH too. John Williams, NY Fed president, mentioned a cut before the September FOMC meeting. But analysts say short term resistance could cause pullbacks despite the consolidation.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Save