NEW YORK – September 15, 2026 – BitMine, the institutional crypto investment vehicle led by renowned market strategist Tom Lee, announced today its largest single purchase of Ethereum (ETH) to date. The acquisition, valued at approximately $500 million, solidifies BitMine’s position as one of the leading corporate holders of the second-largest cryptocurrency.
The massive treasury allocation was executed over the course of the past two weeks, acquiring an estimated 90,909 ETH at an average blended price just shy of $5,500 per token. This landmark purchase surpasses BitMine’s previous record Bitcoin acquisition made in late 2024 and underscores a fundamental strategic pivot toward assets emphasizing decentralized infrastructure and smart contract utility.
Tom Lee, CEO of BitMine, stated in an accompanying press release, ‘We believe Ethereum’s robust network utility, coupled with its fully mature Proof-of-Stake model, makes it irreplaceable infrastructure for the future of finance. This significant investment is not merely a hedge against fiat devaluation, but a deep conviction play on the exponential growth of the global decentralized finance (DeFi) ecosystem, which fundamentally runs on Ethereum.’
The announcement spurred an immediate positive reaction in the crypto markets, with ETH prices jumping over 4% in the hours following the disclosure. Analysts suggest that such high-profile institutional uptake, especially from a firm closely associated with traditional finance, will likely trigger a fresh wave of corporate treasury adoption globally. The move is widely interpreted as a validation of Ethereum’s ‘digital oil’ thesis, prioritizing scalability and application over simple scarcity.
Source: Tom Lee’s BitMine Makes Biggest Ethereum Buy Yet in 2026
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