Bitmine Makes Biggest ETH Purchase Since June, Eyes Institutional Growth

Bitmine, a company focused on acquiring and holding Ethereum (ETH), has made its largest purchase since June, buying 53,501 ETH for approximately $131.3 million at $2,455 per token.

This brings the total number of ETH held by Bitmine to 5,901,112, worth around $14.5 billion at current prices and accounting for about 4.9% of Ethereum's total supply.

With this purchase, Bitmine has now spent 65 consecutive weeks buying ETH as part of its Ethereum treasury strategy launched in June 2025.

According to Tom Lee, the company's chairman, the outperformance of cryptocurrencies over other macro assets in the third quarter could attract more institutional capital to the space.