BitMine Buys $147M in ETH in 24 Hours as Tom Lee Commits to Ethereum

Quick overview

Tom Lee’s BitMine Immersion Technologies (BMNR) made one of the biggest single-day corporate Ethereum purchases in recent memory, buying about 65,000 ETH worth $147 million in the last 24 hours. This total includes a recent 20,000 ETH purchase, valued at around $44.8 million, which on-chain trackers noted this morning.

🚨𝗝𝗨𝗦𝗧 𝗜𝗡: Tom Lee’s BitMine bought $147,000,000 worth of $ETH over the past 24hours pic.twitter.com/pM3ghzOzqh

— DustyBC Crypto (@DustyBC) April 30, 2026

Accumulation Breakdown

• The average purchase price was between $2,260 and $2,300.
• This follows a week of aggressive buying, with 101,901 ETH purchased the previous week..
• BitMine’s total holdings now approach or exceed 5.0 to 5.08 million ETH, which is about 4.1 to 4.2% of the total Ethereum supply.

BitMine remains on track to hit its public 5% supply target. Over 74% of its ETH is already staked through the MAVAN validator network, generating substantial yields with staked value exceeding $8.5–8.7 billion.

Why This Move Matters

This aggressive buying during Ethereum’s price range of $2,250 to $2,400 shows strong institutional confidence in ETH’s long-term fundamentals, such as staking rewards, DeFi growth, RWAs, and upcoming upgrades. It also reduces the available supply and helps set a strong price floor while the broader market remains cautious.

BMNR shares have risen in response to the latest purchases, showing its position as a leveraged way to invest in Ethereum’s recovery. Analysts see BitMine’s approach as smart-money positioning during what they call the “final stages of the mini-crypto winter.”

2026 Outlook

As BitMine continues to stake and grow its treasury, its actions provide strong support for ETH’s price. Large-scale corporate buying like this often comes before stronger price moves, especially when broader economic and regulatory factors line up.

Watch for further on-chain flows and potential BitMine updates. This latest $147M buy underscores growing institutional belief that Ethereum’s best days are still ahead.

ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

Bitcoin at $76,000 After Fed Holds Rates, Geopolitical Uncertainty Clouds Path Forward

4 hours ago

Save

Daily Crypto Signals: Bitcoin Stumbles Near $76K as Fed Holds Rates; Solana Signals Recovery

6 hours ago

Save

Bitcoin Eyes $80K Breakout as Big Tech Earnings Trigger Volatility

19 hours ago

Save