Bitmine Buys 80,325 Ethereum, Becomes Largest Corporate ETH Holder

Highlights:

• Bitmine boosts Ethereum holdings by 80,325 ETH, now owning nearly 1.95 million tokens.
• Other firms, including Sharplink and Ether Machine, increase Ethereum holdings significantly.
• Tom Lee predicts Ethereum could reach $60,000, citing major Wall Street adoption.

Ethereum just had one of its biggest corporate buys in months. On September 4, Bitmine Immersion Technologies, led by strategist Tom Lee, purchased 80,325 Ethereum (ETH) worth about $358 million from Galaxy Digital and FalconX, as per data from Arkham. Ethereum says this is part of its Ethereum “Strategy,” which is focused on building a long-term stake in ETH.

With this purchase, Bitmine now owns 1,947,299 ETH, worth about $8.69 billion at today’s prices. This makes Bitmine the biggest corporate holder of Ethereum in the world, owning almost 1.6% of all ETH in circulation. It gives the company more influence in the Ethereum network, similar to how Michael Saylor’s Strategy influences Bitcoin.

According to @EmberCN, Ethereum microstrategy company Bitmine (BMNR) received 80,325 ETH ($358 million) from Galaxy Digital and FalconX in the past hour. It now holds a total of 1,947,299 ETH ($8.69 billion) — more than double the holdings of SharpLink, the second-largest ETH…

— Wu Blockchain (@WuBlockchain) September 4, 2025

Big Firms Boost Ethereum Holdings

Bitmine isn’t the only company buying more Ethereum. Recently, Sharplink increased its holdings to 837,230 ETH (worth over $3.6 billion) after purchasing 39,008 ETH at an average price of $4,531. Ether Machine also bought 150,000 ETH, bringing its total to 500,000 ETH, valued at about $2.19 billion. Together, these purchases show that more big companies now see ETH as a long-term strategic investment.

Good morning, Machinists. We just raised another 150,000 #ETH in August ($654M).

This is the largest follow on investment of any crypto treasury company thus far, bringing our total committed capital up to >$2.5B
⬇️

— The Ether Machine (@TheEtherMachine) September 2, 2025

This wave of buying has helped keep Ethereum’s price strong. ETH is now around $4,409, up 20% in the past month and 84% over the past year. After hitting a new all-time high, the price dipped a bit as some investors took profits, but it stayed above the key $4,300 support level, showing strength.

The strength is also reflected in whale activity. Since April’s yearly lows, Ethereum whales have quietly increased their holdings, signaling growing confidence in the asset’s long-term potential. Santiment reports that wallets containing 1,000 to 100,000 ETH have increased their holdings by 14% in the last five months.

🐳 Ethereum has crept back up to nearly $4.5K, with accumulation coming from the key 'millionaire' and 'small billionaire' whales and sharks that hold between 1K and 100K $ETH. In exactly 5 months, they have added 14.0% more coins.

🔗 Link to chart: https://t.co/F3qGKbiF65 pic.twitter.com/oK7wdqp685

— Santiment (@santimentfeed) September 3, 2025

Tom Lee Restates ETH $60,000 Long-Term Prediction

On Wednesday, Tom Lee joined the Medici Presents: Level Up podcast and restated his belief that Ethereum could hit $60,000 over time. He compared Wall Street’s growing interest in Ethereum to a “1971 moment,” when the U.S. stock market surged after Nixon froze wages and prices to control inflation

Lee continued, telling co-host David Grider that this shift toward crypto could open significant opportunities to expand blockchain adoption across industries. He added that while ETH may not be the only winner, it will be one of the main ones.

Lee said:

“Wall Street moving onto crypto rails, I think, is like a 1971 moment for Ethereum. So I think it’s creating enormous opportunities to move a lot of things onto the blockchain. And Ethereum won’t be just the only winner, but it’s one of the primary winners.”

Lee noted that companies keeping Ethereum in their treasuries deserve a higher valuation, as they can stake their ETH directly. Unlike Ether ETFs, which have liquidity limits and cannot stake all their ETH, these companies can. By staking, they earn a 3% reward, potentially increasing their holdings’ value by about 90%, or a 1.9x multiplier. Right now, BitMine’s mNav is trading at a lower multiplier of 1.13, according to Strategic Ethereum Reserve.