Bitmine ETH purchase hits $81 million, biggest weekly haul since July – Tom Lee notes 30% rally

Bitmine ETH purchase surges amid 30% weekly rally

The treasury firm Bitmine, guided by analyst Tom Lee, allocated ↑ $81 million to Ethereum (ETH) this week, marking the largest single‑week acquisition since early July. Lee argues the ↑ 30% price jump could foreshadow a broader upward trajectory. Market depth expanded as on‑chain metrics showed heightened demand, while exchange inflows remained modest.

“The momentum is undeniable,” Lee told Reuters.

Institutional appetite appears to be shifting, with Bloomberg reporting a rise in crypto‑focused balance sheets. Analysts caution that volatility persists, but the scale of the Bitmine ETH purchase underscores growing confidence among large‑scale investors.

Dispatch from Chloe Winters (Venture Capital & Innovation Reporter).