Tom Lee's Bitmine adds another 40,000 ETH — a $94.7M institutional bet.

Bitmine, the investment vehicle associated with Fundstrat's Tom Lee, acquired 40,000 ETH worth approximately $94.68 million roughly eight hours ago, according to on-chain data. The purchase signals continued conviction from one of crypto's most prominent institutional voices at current price levels.

The scale of the buy — nearly $95M in a single transaction — puts Bitmine among the more aggressive institutional accumulators in the current cycle. For ETH, consistent demand of this size from named institutions adds a structural bid that goes beyond retail sentiment.