Bitmine snaps up 65,000 ETH in 24 hours — now holds 4.2% of circulating supply!

Bitmine Immersion Technologies executed a $147 million Ethereum purchase in a single day, adding 65,000 ETH and pushing its verified on-chain holdings to over 626,000 ETH valued at more than $1.4 billion. A 20,000 ETH block worth $44.8 million was routed through institutional desk FalconX, while a separate 10,000 ETH lot was acquired directly from the Ethereum Foundation via OTC on April 24.

Chairman Tom Lee, who also heads research at Fundstrat Global Advisors, framed the move as a conviction bet that ETH is in the "final stages of the mini-crypto winter." The firm has staked 3.7 million ETH generating an estimated $363 million in annual yield — and Lee maintains a long-run $62,000 price target, citing tokenisation and agentic AI as the two structural drivers of the next leg up.

With ETH currently consolidating near $2,250 and leading all chains in fee generation at $1.3 million, the…