Tom Lee’s Bitmine Adds $82.8 Million in Ethereum, Now Holds 3.5M ETH Worth $12B
Institutional investor Tom Lee’s firm, Bitmine, has reportedly increased its Ethereum holdings with a fresh $82.8 million purchase, underscoring renewed confidence in the world’s second-largest cryptocurrency.
Bitmine Strengthens Its Ethereum Position
According to on-chain wallet data, Bitmine now holds over 3,500,000 ETH, valued at approximately $12 billion. The average purchase price across the firm’s holdings is estimated at $3,639 per ETH.
The most recent accumulation adds to a growing trend of institutional activity surrounding Ethereum as investors position for potential upside in 2025, driven by network upgrades, scaling developments, and increasing DeFi adoption.
Institutional Confidence in Ethereum
Bitmine’s move reflects a broader institutional shift toward Ethereum as a core digital asset alongside Bitcoin. Analysts note that Ethereum’s expanding role in decentralized finance, tokenization, and smart contract infrastructure continues to attract long-term capital.
Tom Lee, known for his bullish outlook on both Bitcoin and Ethereum, has repeatedly emphasized Ethereum’s potential to outperform during the next major cycle due to its network utility and adoption across sectors such as tokenized finance, gaming, and enterprise blockchain.
A Growing Whale Trend
The purchase also aligns with broader on-chain data showing that whale and institutional addresses have steadily increased Ethereum accumulation since late Q3.
This trend coincides with a decline in exchange reserves, suggesting that large holders are moving ETH into long-term custody or staking.
The Bigger Picture
Ethereum’s market structure remains resilient amid a period of relative consolidation. With the ongoing rollout of scaling solutions, Layer 2 integrations, and ETH’s role in powering decentralized infrastructure, institutional accumulation may signal long-term conviction in Ethereum’s role as the backbone of the decentralized economy.
For Bitmine, this latest $82.8 million investment further cements its position as one of the largest institutional holders of Ethereum globally, reinforcing market sentiment that ETH remains a cornerstone asset for the next wave of blockchain growth.
