BitMine Acquires $150M in Ethereum, Aims to Secure 5% of Total Ethereum Supply

BitMine’s $150M Ethereum acquisition aims for 5% of total supply, with Tom Lee predicting Ethereum's price surge.

Fridah Kangai
December 5, 2025
5:30 pm

Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.

BitMine acquires 48,623 ETH, aiming for 5% of Ethereum supply.
Ethereum treasury firm plans aggressive acquisitions despite market downturns.
Tom Lee remains bullish, predicting Ethereum’s rise to $9,000.

An Ethereum treasury company called BitMine, which was co-founded by Fundstrat lawyer Tom Lee, has recently acquired 48,623 ETH worth $150 million. The two platforms were BitGo and Kraken, with 18,345 ETH and 30,278 ETH, respectively, according to Arkham, an on-chain analytics firm. Although the transaction has yet to be publicly verified by BitMine, on-chain records confirm the plan of the firm to increase Ethereum assets.

Also Read: Spanish Influencer Álvaro Romillo Jailed Over Alleged $300 Million Ponzi Scheme.

BitMine’s Aggressive Strategy to Secure Ethereum Supply

This recent purchase is among the larger ambitions on the part of BitMine to own 5% of the total supply of Ethereum. The company is adamant about the long-term value of Ethereum despite the volatility in the market. BitMine still continued to enter its Ethereum stash even in November, in its doldrums. It purchased 96,798 more ETH in the last week of November, which now represents more than 3 percent of the Ethereum supply in circulation.

TOM LEE JUST BOUGHT $150M ETH

Two fresh wallets just withdrew $92M of ETH from Kraken, and $58M from Bitgo, matching prior Bitmine purchase patterns.

Tom Lee is DCAing ETH. pic.twitter.com/uZxEnhVvzi
— Arkham (@arkham) December 3, 2025

On the contrary, purchase rates of Ethereum by numerous digital asset treasuries have decelerated. Bitwise found that in November, Ethereum digital asset treasuries (DATs) had purchased only 370,000 ETH, an 81% sharp decline compared to the 1.97 million ETH that were purchased in August. This sluggishness is opposed to the strategy of BitMine, which helps it to become a serious contender in the Ethereum market.

Tom Lee’s Bullish Outlook on Ethereum’s Future

Tom Lee is hoping that Ethereum will perform better in the future. He singles out the Fusaka upgrade and the quantitative tightening termination of the Federal Reserve as significant stimuli that may propel Ethereum higher in price. Lee estimates that Ethereum will be valued between $7000 and $9000 in January 2026, as compared to its current valuation of $3 215.

BitMine shares increased by 5.48 percent to $33.66 following the acquisition despite the reduction of its stock by 21.47 percent in the last month. Such an increment indicates confidence of investors in the Ethereum strategy of BitMine.

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