TLDR
- BitMine added $45M in ETH, raising holdings to 1.518 million ETH.
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Firm’s unrealized profit is now at $1.9 billion based on ETH at $4,735.
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Ethereum records new highs in daily transactions and active addresses.
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Gas fees remain near historic lows despite growing network activity.
Tom Lee’s investment firm BitMine has purchased an additional $45 million worth of Ethereum, boosting its total ETH holdings to approximately $7.19 billion. The acquisition added around 9,500 ETH to its treasury, according to on-chain data reviewed by Arkham.
The firm now holds roughly 1.518 million ETH, making it one of the largest institutional Ethereum holders globally. The purchase was made at current price levels near $4,735, placing the position near breakeven for the new tokens. However, earlier ETH purchases—made at an average entry price of $3,492—remain deeply in profit.
BitMine’s accumulated unrealized gains are now estimated at around $1.9 billion, underscoring long-term conviction in Ethereum’s value proposition.
Ethereum Treasury Position Reinforces Institutional Confidence
BitMine’s consistent accumulation of Ethereum suggests growing institutional acceptance of ETH as a long-term asset. The firm has steadily expanded its holdings even as Ethereum’s price increased in recent months.
This latest transaction confirms BitMine’s approach of building a substantial on-chain treasury. The company has publicly aligned its strategy with Ethereum’s projected role in global finance, gaming, and infrastructure. At current market prices, no other institution is known to hold more ETH than BitMine.
The company’s confidence appears to be rooted in Ethereum’s increasing role in blockchain adoption and its performance as a programmable settlement layer.
Ethereum Activity Reaches New All-Time Highs
BitMine’s purchase comes during a period of record usage for the Ethereum network. According to Token Terminal, Ethereum has reached all-time highs in both daily transactions and active address counts. These figures suggest rising application and user demand across the Layer 1 chain.
Despite the network activity surge, gas fees remain close to historical lows. This indicates that Ethereum’s scaling efforts—such as EIP-4844 and rollup integrations—have started to pay off in managing congestion and lowering transaction costs.
This technical progress reinforces market belief that Ethereum can maintain high throughput without compromising user affordability, which is critical for long-term adoption.
Price Outlook and Network Trends Continue to Support Demand
With Ethereum currently trading near $4,735, some analysts are setting near-term targets closer to $5,500. This sentiment is supported by strong network fundamentals and low fees.
BitMine’s continued accumulation is seen by many as a signal of confidence from sophisticated investors.
Ethereum’s utility across finance, gaming, and decentralized applications has expanded rapidly over the past year. Its scalability improvements allow for growth without the usual fee pressure, making it more appealing to institutional holders like BitMine.
