Bitmine Adds $75 Million in Ether Holdings as Tom Lee Sees Institutions Underweight

Bitmine ether holdings — Bitmine Immersion Technologies, the largest Ethereum-centric treasury firm, purchased an additional 27,562 ETH last week, a $75.2 million acquisition that continues its accumulation strategy.

The purchase, executed at an average price of $2,727 per ether, brings Bitmine’s total holdings to 5,983,940 ETH, representing roughly 4.9% of the token’s total supply. The company has been steadily buying toward a goal of owning 5% of the Ethereum supply.

Bitmine Chairman Tom Lee, who is also co-founder of Fundstrat Global Advisors, commented on the broader institutional landscape. He stated that institutional investors remain “underweighted” in crypto assets and suggested that Ethereum’s strong performance in the third quarter of 2026 could prompt them to increase their exposure in the final months of the year.

The purchase underscores continued institutional accumulation of Ethereum despite recent market conditions. Bitmine’s strategy focuses on building a significant treasury position in ETH, positioning the firm as a major holder within the ecosystem.