Tom Lee Back in The News as Bitmine Acquires 65,000 Ethereum In a Day

Bitmine Immersion Technologies just dropped the news bomb with a $147 million Ethereum purchase in a single 24-hour window. Tom Lee’s Bitmine snapped up 65,000 ETH and pushed its total holdings to 5.07 million ETH, or more than 4.2% of the entire circulating supply.

ETH price sits at the $2,250 level at the time of writing, consolidating after a stretch of relative underperformance against Bitcoin. Tom Lee himself is still with a $62K Ethereum target in the long run as ETH records the biggest fees generated versus other chains.

ETH leading in fees with just over $1.3M, followed closely by HYPE! pic.twitter.com/h98RR5pNHp

On-chain data tracked via Arkham Intelligence shows Bitmine’s wallet activity spiking sharply, with over 626,000 ETH in verified on-chain holdings valued at more than $1.4 billion.

The firm executed a 20,000 ETH block purchase worth $44.8 million through FalconX, a major institutional trading platform, as part of the 65,000 ETH accumulation. A separate 10,000 ETH lot came via direct OTC acquisition from the Ethereum Foundation on April 24, 2026.

Tom Lee, chairman of Bitmine and head of research at Fundstrat Global Advisors, has been one of crypto’s most consistently bullish institutional voices. Lee stated the firm believes ETH is in the “final stages of the ‘mini-crypto winter,'” and Bitmine has now staked 3.7 million ETH, generating an estimated $363 million in annual yield.

TOM LEE SAYS $ETH IS GOING TO $62,000

– Ethereum is the best performing asset since the war started
– Outperforming gold, silver, and energy stocks
– Tokenization and agentic AI are the two drivers of the next big move
– Bitcoins' fair value $250K, ETH at a quarter = $62,000 pic.twitter.com/JIte3HIncF

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