BitMine pumps $358M into Ethereum
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Tom Lee’s BitMine bought $358 million worth of Ethereum, growing its treasury, securing its place among the largest institutional ETH holders, and driving a new jump in Ethereum’s price. BitMine received two big ETH transfers from Galaxy Digital and FalconX, adding about 80,000 ETH to its wallets and lifting its total holdings to 1,947,299 ETH worth about $8.69 billion. BitMine increases Ethereum treasury with fresh $358M purchase BitMine strengthened its position as the largest holder of ETH among corporate investors after purchasing 14,665 ETH from Galaxy Digital (roughly $65 million) and 65,000 ETH through FalconX (about $293 million). Both transfers were routed into new BitMine wallets within 24 hours, and their combined value is $358 million. These new purchases come at a time when the company is aggressively building its treasury by taking advantage of price dips and market opportunities. Just a week earlier, the company added 153,075 ETH (approximately $668 million), bringing its total inventory to 1,947,299 ETH (about $8.69 billion) combined with the fresh inflows from Galaxy Digital and FalconX. With such a massive treasury, BitMine has surpassed other ETH holders by a milestone. The second-largest known corporate holder of Ethereum, SharpLink Gaming, has a total stash less than half the size of BitMine’s, even after buying more than 39,000 ETH in late August and early September. This shows just how much BitMine has outpaced its peers and set an institutional record that is almost impossible to beat. On-chain analyst Yu Jin said the fact that BitMine received about 80,000 ETH within a single hour on September 4 shows just how massive its resources are. It also reflects the abilities of large liquidity providers like Galaxy Digital and FalconX to facilitate such large transactions without disrupting market prices. Ethereum price rises as institutional buying and staking grow Just…
Filed under: News - @ September 4, 2025 12:29 pm