BitMine, the Ethereum treasury firm led by Fundstrat co-founder Tom Lee, has added roughly $88 million worth of ether to its holdings, according to onchain data. The transactions involved nearly 29,500 ETH acquired through crypto service providers, including BitGo and Kraken, though the company has not formally confirmed the specific purchases.
The company disclosed separately that it acquired nearly 99,000 ETH over the previous week, bringing total holdings to just over 4 million ETH. BitMine reported an average acquisition price of $2,991 per ether, valuing its Ethereum treasury at approximately $12 billion based on current market levels.
The continued accumulation highlights a growing trend among select public companies using Ethereum as a strategic treasury asset. BitMine’s activity reflects broader institutional engagement with crypto balance sheet strategies amid evolving market structures and increased attention to onchain assets.
