Tom Lee’s BitMine Just Bought $29 Million in Ethereum
Quick Take Summary is AI generated, newsroom reviewed. BitMine purchased 7,660 ETH worth $29.28 million from Galaxy Digital. The trade occurred at an average price of $3,823 per ETH. BitMine aims to accumulate 5% of Ethereum’s total supply under its “Alchemy of 5%” plan. This follows BitMine’s earlier $800 million ETH purchase in October 2025.References X Post Reference
The crypto world could not be left behind after a big purchase of Ethereum was made by financial analyst, Tom Lee under BitMine. The company purchased 7,660 ETH worth approximately 29.28 million dollars of Galaxy Digital, a top crypto investment and trading firm. This is a huge move to boost increasing institutional confidence in Ethereum, particularly when market begins to trend upwards towards the end of 2025.
Ethereum Purchase Fuel to Bullish Market
The ETH was purchased by BitMine on the Galaxy Digital over-the-counter (OTC) trading desk and not on the market, which eliminated market volatility and slippage. This purchase price, which is at 3823 on average/ETH, is very close to the current trading value of Ethereum, which is 3,800- 3,900 on average. Analysts consider this move as an indication that institutional buyers regard Ethereum as underestimated before it runs another significant time.
BitMine has been continuously gaining ETH in 2025. The firm purchased 200,000 ETH in October 2025. It is values at $800 million, which implies that the company is planning to accumulate these long-term. According to this most recent transaction, the total number of Ethereum owned by BitMine now amounts to more than 207,000 ETH worth about 794 million dollars.
Huge Ethereum Institutional Trades
Galaxy Digital, which is led by Mike Novogratz, is still among the most prolific institutional participants in the crypto space. Its OTC desk regularly makes high priced transactions without interfering with exchange prices. In June 2025, Galaxy made a transfer of 283 million Ethereum which strengthened its position as a liquidity provider to key crypto investors. Galaxy Digital has been able to facilitate large-scale transactions in a discreet manner, and as such, has helped institutional markets to remain stable, even as companies such as BitMine take advantage of it at the right time.
Ethernet is still experiencing high institutional demand due to its proof of stake algorithm, low energy usage, and an increasing staking ecosystem. More than 28 million ETH, about 23 percent of all supply, are in staking, reducing the availability of liquidity. The future scalability of this network on 2025 also boosts the confidence of investors.
Strategy and Long-term Vision of BitMine
BitMine, led by Tom Lee, is aiming at what it terms the Alchemy of 5% a strategy to amass in the area of 5 percent of the entire quantity of Ethereum (approximately 120 million ETH). The company views Ethereum as the foundation of the decentralised economy, which helps to support smart contracts, NFTs, and tokenized assets.
BitMine also buys when there are minor corrections so that it can be in front of any rally. His future projections indicated a bullish attitude in the past – Lee had earlier predicted that Ethereum would attain a price of 10,000 dollars by the year 2025 which today is giving investors a close eye.
Implications and Reactions
The sentiment amongst the people in the community seems to be mainly bullish, as most of the traders termed the move as smart money coming in early. Nevertheless, some critics indicate that institutional actions can preempt the retail interest, which will generate the short-term volatility.
This massive purchase can stabilize the price of Ethereum above the $3,800 level and speculation of an upward curve to $4,000. Provided that Ethereum continues to experience stable staking inflows and institutional buildup, analysts are of the view that ETH may soon re-test its past all time highs.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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