Buying another 32 thousand coins: "The rise had to happen"

Ethereum recorded an increase of about 30% in the last week, in a move that made it one of the most prominent assets in the crypto market recently. This is the sharpest weekly rise for the coin since May 2025, and before that since July 2021.

Parallel to the price increase, the company Bitmine Immersion, led by Tom Lee, announced that it had purchased an additional 32,447 ETH coins. According to the report, the new holding is currently worth about 81.5 million dollars, and brings the company's total holdings to 5,847,611 Ethereum coins, worth about 14.7 billion dollars. Thus, Bitmine holds about 4.8% of all Ethereum coins in circulation.

Tom Lee is the chairman of the company Bitmine. According to him, the sharp rise "had to happen," against the backdrop of the strengthening foundations of the crypto market and other factors that he believes support the demand for digital assets. He pointed, among other things, to the growing interest from Wall Street, the conversion of financial assets and traditional products into digital assets, as well as the development in the field of artificial intelligence.

In addition, Lee claimed that easier financial conditions might continue to support the crypto market. According to him, the positive signals from the White House towards the crypto sector and long-term bond purchases by the US Treasury also contributed to the improvement in investors' appetite for riskier assets.

But the figure that is particularly interesting, according to Lee, is that both in May 2025 and in July 2021, a weekly increase of more than 30% was recorded in Ethereum, and in both cases the move signaled a starting point for another significant rise. However, there is no guarantee that history will repeat itself. The crypto market is influenced by a wide range of factors, and past performance does not guarantee future results.

At the same time, Bitmine continues to increase its exposure to Ethereum at a significant pace: out of the 5.85 million coins in its possession, about 5.07 million are already deposited in the staking mechanism, meaning they are used to participate in securing the network, and in return the company receives rewards. According to Lee's estimate, the company's annual staking revenues could reach about 330 million dollars.

Bitmine has thus become the public company with the largest Ethereum reserve in the world. The move is reminiscent of the strategy of public companies that build large Bitcoin reserves, but in the case of Bitmine, the focus is on Ethereum. For investors, the central question is not only how much ETH the company purchased, but whether the growth in demand from large companies and institutional investors will continue to support the coin's price. If this is indeed the beginning of a wider wave, the purchase of 32,447 coins might appear in retrospect as only a small part of a much larger move. On the other hand, if the enthusiasm fades, the sharp rise might also turn out to be a temporary correction.