Bitmine has purchased an additional $74 million worth of Ethereum, lifting its holdings to nearly 5.99 million ETH, according to Decrypt. The company’s stash now represents about 4.9% of Ethereum’s total supply. Bitmine Chairman Tom Lee said the broader crypto bull market is already underway, pointing to Ethereum’s outperformance as a sign that a stronger move may follow. Lee also argued that institutional investors remain underweight crypto, suggesting their current exposure has room to increase. The update highlights Bitmine’s continued accumulation of ETH as the company builds one of the largest reported corporate holdings of the asset. The purchase and Lee’s market comments may be relevant to investors tracking Ethereum’s supply concentration, institutional participation and broader crypto-market momentum.
