Tom Lee’s BitMine Buys $81 Million in Ethereum as ETH Hits $2,500

Ethereum price broke above $2,500 this week during a sharp market-wide rally, and BitMine Immersion Technologies used the moment to make its largest weekly purchase since early July.

The Tom Lee-chaired firm added 32,447 ETH, pushing its position closer to a stated “5% Alchemy” target.

BitMine’s Largest Purchase in Weeks

BitMine spent $81 million to buy the new tokens, bringing its total holdings to 5,847,611 ETH, valued at approximately $14.6 billion at current prices.

Including 210 Bitcoin (BTC), stakes in Beast Industries and Eightco Holdings, and $308 million in cash and marketable securities, the company reported a combined treasury of $14.9 billion, up from $11.4 billion the previous week.

The company has purchased ETH every single week since launching its treasury strategy on June 30, 2025, a run of roughly 14 months without interruption.

Its current holdings amount to roughly 4.8% of Ethereum’s total supply, putting the firm about 97% of the way toward the 5% threshold it has pursued publicly since the strategy began.

Tom Lee’s Bitmine has bought another $81M worth of Ethereum, marking its largest weekly ETH accumulation since early July.The purchase comes as ETH has surged around 30% over the past week, with Lee suggesting this move could be the beginning of a much larger trend.While many… pic.twitter.com/jm3h1cE42m

— That Martini Guy ₿ (@MartiniGuyYT) August 24, 2026

Roughly 5,067,309 ETH, or 87% of BitMine’s holdings, sits staked through its Made in America Validator Network.

The company projects that the position could generate around $330 million in annualized revenue, though actual returns depend on network conditions and validator performance rather than being guaranteed.

Why Tom Lee Sees This Rally as Different

ETH traded near $2,511 as of August 24, according to BeInCrypto data, after surging roughly 30% over the past week, its strongest gain since May 2025. That climb outpaced Bitcoin’s own advance of roughly 22% over the same period.

Lee framed the past week’s price action as historically significant. This marks the largest weekly gain since May 2025, and in the two prior instances of similar magnitude, such a move signaled the launch point of a much larger rally, one he noted was followed by gains exceeding 160% in earlier cycles.

The $ETH weekly gain of 30% historically signaled a larger upward move for @ethereum in weeks ahead https://t.co/QwdyLVb134

— Thomas (Tom) Lee (not drummer) FundstratDirect.com (@fundstrat) August 24, 2026

He pointed to several tailwinds behind the move: Wall Street’s growing tokenization efforts, expanding agentic AI applications built on blockchain infrastructure, supportive policy signals out of Washington, and easing broader financial conditions.

BitMine’s continued buying, even as ETH rallies rather than dips, signals institutional conviction rather than opportunistic bottom-fishing.

As the largest publicly traded Ethereum treasury company, it positions its steady accumulation and staking operations as a structural force behind the network’s growth, regardless of short-term price swings.

$ETH managed a weekly close above the $2,450 level.If this level holds, Ethereum is going to $3,000 in a few weeks. pic.twitter.com/MJh4OwSrfB

— Ted (@TedPillows) August 24, 2026

Whether this week’s breakout above $2,500 marks the start of the larger move Lee described will likely depend on whether the fundamental catalysts he cited continue building momentum in the weeks ahead.

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