Tom Lee's BitMine Makes Record-Breaking Ethereum Purchase

The Ethereum price has held steady despite significant institutional buying pressure. Chairman of BitMine Immersion Technologies, Tom Lee's crypto treasury vehicle, recently made its largest single Ethereum purchase since June, acquiring 53,501 ETH worth $131 million.

This acquisition brings BitMine's total holdings to 5,901,112 ETH, which is approximately 4.9% of the entire circulating supply. The company has staked 86% of these holdings, with a projected annualized yield of around 20%. This accumulation marks an unbroken streak for BitMine, having bought Ethereum every week since June 30, 2025.

Ethereum's price is currently consolidating within a rising wedge pattern just below the critical $2,550 resistance level. A clean break above this level could pave the way for a target of $2,800 or higher. However, if support clusters at the 20-day EMA ($2,293.75), Supertrend ($2,212.19), 200-day EMA ($2,161.32), and 100-day EMA ($2,036.88) fail to hold, a decline could occur.