Bitmine has invested $75 million in ether, continuing its accumulation strategy while Tom Lee notes institutional investors remain underweight in crypto.
Bitmine has made a substantial investment of $75 million in ether, acquiring 27,562 ETH as institutional investors remain underweight in cryptocurrencies, according to Tom Lee.
Bitmine's Continued Ether Accumulation Signals Optimism for Institutional Interest
Bitmine Immersion Technologies, recognized as the largest Ethereum treasury firm, recently added to its holdings by purchasing 27,562 ether, valued at approximately $75.2 million based on the ether price of $2,727. This latest acquisition brings Bitmine’s total ether reserves to 5,983,940 ETH, representing about 4.9% of the overall supply of 122.1 million ETH.
Since transitioning to a crypto treasury strategy in June 2025, Bitmine has consistently acquired ether weekly. The firm is on track to reach its target of owning 5% of the total ether supply within the next few months. Currently, Bitmine has staked around 5 million ETH, amounting to about 85% of its total holdings, with projections estimating an annual staking revenue of $357 million based on current yields.
Bitmine's share price increased by 5.8% in pre-market trading, following an 8% rise on Friday, as the price of ether reached levels not seen since January.
Tom Lee's Insights on Institutional Crypto Investment Trends
Tom Lee, chairman of Bitmine and co-founder of Fundstrat, noted that institutional investors have yet to fully engage with cryptocurrencies, having focused on AI-related stocks earlier this year. He anticipates that these investors will increase their crypto allocations in the final quarter of 2026, particularly as ether has surged 76% since late June, outpacing the S&P 500's modest 2% gain.
Lee pointed out that the underexposure of institutions to crypto, coupled with the growing adoption of blockchain technology and tokenization, could further stimulate institutional investment in the sector. He remarked, "With institutions being underweighted in crypto during 2026, partly due to the early-year success of AI stocks, we expect a notable increase in their crypto exposure in the last three months of 2026."
