Bitmine Buys 9,946 ETH Amid Strengthening Crypto Market

Bitmine, led by Tom Lee, has acquired 9,946 ETH worth approximately $19.4 million, increasing its total holdings to 5,787,414 ETH valued at around $11.2 billion or roughly 4.8% of Ethereum's circulating supply.

This move comes as the ETH/BTC ratio reached a three-month high at 0.3000, which Tom Lee believes is a sign that crypto prices are strengthening.

Lee pointed out that even if the Clarity Act in 2026 does not pass, the rising ETH/BTC ratio still indicates an increase in ETH prices.

The Ethereum price itself has reached a 10-week high, with Lee forecasting $2,000 and $2,500 as key levels to watch.