Bitmine Boosts Ether Holdings Amid Rising ETH/BTC Ratio

Bitmine, the largest Ethereum treasury company, continued its purchasing of ether last week. The company bought 9,946 ETH, worth approximately $19.4 million at current prices, up from 7,430 ETH the previous week.

This purchase lifted Bitmine's holdings to 5,787,414 ETH ($11.2 billion), or about 4.8% of ether’s circulating supply. The company has been steadily adding to its treasury since launching this strategy in June 2025 and is now within reach of its long-term goal of accumulating 5%.

Tom Lee, chairman of Bitmine and cofounder of Fundstrat, cited the recent strength of ETH relative to BTC as a sign that crypto prices are strengthening. The ETH/BTC ratio has reached a three-month high at 0.3000, which Lee believes bodes well for future strengthening of ETH prices.

Lee also pointed out that ether has been one of the strongest-performing assets in the CoinDesk 20 index over the past month, advancing roughly 24%, outperforming bitcoin’s 8% gain.