Bitmine, the firm backed by Fundstrat's Tom Lee, acquired 101,745 <a class="ticker-mention" href="/en-US/token/eth">ETH</a> over the past seven days, lifting its total Ethereum holdings to 5.18 million ETH. The pace of accumulation signals a deliberate, high-conviction institutional build rather than opportunistic dip-buying.
At current prices, 5.18 million ETH represents a position of significant scale — one of the larger disclosed institutional Ethereum stacks on record. Continued buying at this cadence would make Bitmine a meaningful force in Ethereum's supply dynamics, particularly as staking and restaking absorb an increasing share of circulating supply.
Lee has been publicly constructive on Ethereum's long-term role in institutional portfolios, and this week's additions suggest that conviction is being backed with capital at scale.
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