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Crypto

Tom Lee-Led BitMine Scoops Up $48 Million Worth of Ethereum

Guavy AI Editorial Team
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Tom Lee-led BitMine continues to bet big on Ethereum (ETH), purchasing 20,000 ETH from Kraken for $48.89 million, worth around $2,440 a token.

This brings the company's total ETH holdings to approximately 5.87 million, still below its goal of owning 5% of all Ether.

According to Lee, the rally in Ethereum's price was overdue due to strengthening crypto fundamentals, including Wall Street tokenization, agentic AI, easing financial conditions, and supportive crypto policy.

Despite this, BitMine has yet to verify the transaction on its books, but on-chain tracker Lookonchain confirmed the purchase on X.

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