Bitmine Buys $75 Million in Ether as Tom Lee Says Institutions Remain Underweight

Bitmine continued expanding its Ethereum holdings with a $75 million ether purchase, according to CoinDesk. The acquisition came as the company’s chairman, Tom Lee, said institutional investors remain underweight in crypto. Lee also argued that ether’s strong third quarter could encourage institutions to raise their exposure to digital assets. The move reinforces Bitmine’s focus on building an Ethereum-centric treasury while investor positioning remains a key consideration for the broader crypto market. Ether is the primary asset linked to the company’s treasury strategy, and any shift in institutional allocations could influence market interest in ETH. CoinDesk reported the purchase and Lee’s comments on September 21, 2026.