Tom Lee's Bitmine Just Snapped Up Another 60,000 ETH for $125.9M!

Tom Lee's Bitmine has made another major Ethereum move, with on-chain data showing two newly created wallets — likely linked to the firm — receiving 60,000 ETH worth approximately $125.9 million from Kraken and BitGo. The transfer pattern suggests a fresh institutional accumulation rather than an internal rebalance.

The use of both Kraken and BitGo as the funding sources points to a deliberate, multi-custodian acquisition strategy — the kind of operational setup firms deploy when building a position they intend to hold, not trade. For Ethereum bulls, Bitmine's continued buying adds another named institutional buyer to the ledger at a moment when ETH is competing for the same institutional attention as Bitcoin.