BitMine Drops $81M on Ethereum Amid 30% Price Surge

BitMine Immersion Technologies has made a significant move in the Ethereum market by purchasing $81 million worth of ETH. This is their largest weekly accumulation since early July, and it coincides with a 30% increase in Ethereum's price over the past week.

According to Chairman Tom Lee of BitMine, this rally might indicate an institutional-level move towards ETH. The company has positioned itself as one of the most aggressive corporate purchasers of Ether in 2025, similar to MicroStrategy's approach with Bitcoin but focused on ETH.

BitMine's ETH holdings are among the largest corporate Ethereum treasuries in the industry, according to blockchain analytics firm Arkham Intelligence. This purchase reflects a larger movement of publicly traded companies diversifying their cryptocurrency exposure, including SharpLink Gaming and Bit Digital which have been adding to their Ethereum balances alongside Bitcoin.