Bitmine made another big move. On Tuesday, the firm acquired 67,111 ETH worth approximately $145 million through two separate wallet addresses, according to Lookonchain, with confirmation from analytics platform EmberCN.
Inside the $145 Million Purchase and Cumulative Holdings
This is not an isolated buy. Between March 16 and March 22, Bitmine had already purchased 65,341 ETH. The consecutive weekly accumulation suggests a structured treasury strategy rather than opportunistic trading. After this latest scoop, Bitmine's total Ethereum stash has swelled to roughly 4.66 million ETH — valued at nearly $10 billion at current prices, representing about 3.86% of the asset's circulating supply. That makes it the largest known institutional Ethereum holder.
Tom Lee: Crypto Winter in Its Final Stages
Bitmine chairman Tom Lee stated earlier this week that the firm believes Ethereum is approaching the tail end of what he called a "mini crypto winter." The continued accumulation reflects confidence that market conditions are improving. Yet the broader market remains cautious: Ethereum traded near $2,169 at press time, up modestly in the past 24 hours but still more than 55% below its August 2025 all-time high around $4,900.
Institutional Peers and Stock Price Disconnect
Other treasury-focused firms hold significantly smaller positions. SharpLink Gaming sits on about 863,021 ETH, while The Ether Machine controls roughly 496,712 ETH. Bitmine dwarfs both. However, Bitmine's own stock tells a different story. Shares fell 2.21% on Tuesday to close at $20.80, recovering slightly in after-hours trading, but have lost nearly 60% over the past six months.
Technical Picture: Consolidation Within Bollinger Bands, RSI Neutral
Ethereum's price action shows consolidation in the $2,150–$2,170 range, holding above the middle band of the Bollinger Bands after a sharp upward move earlier this month. The upper band at around $2,318 serves as near-term resistance; the lower band near $1,899 offers a wider support zone. The Relative Strength Index (RSI) sits near 54, in neutral territory — neither overbought nor oversold — supporting the ongoing sideways phase. Steady price action and balanced momentum suggest Ethereum is stabilizing after recent swings, with key moving averages still trending upward.
Bitmine's latest $145 million ETH purchase aligns with Tom Lee's view that the crypto winter is ending. The firm continues to build its dominant institutional position in a structured, methodical manner.