Tom Lee’s Bitmine Boosts ETH Holdings with $145M Acquisition

Highlights:

• Tom Lee’s BitMine has expanded its ETH holdings with a fresh purchase worth $145 million. 
• The company acquired 67,111 ETH tokens from Kraken, completing the purchase within five hours. 
• The purchased tokens were moved to two different wallets labelled “0x7c4…..07134” and “0xD77…..cA7Bb.” 

On-chain crypto tracker Lookonchain reported another large Ethereum (ETH) purchase by Tom Lee’s BitMine. In a tweet dated 25 March, the on-chain tracker stated that the ETH investment firm acquired an additional 67,111 ETH for $145 million. Lookonchain added that BitMine purchased the tokens from Kraken and completed the acquisition within five hours.

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According to Lookonchain, the purchase was completed via three major transactions. The first one involved 33,112 ETH tokens valued at approximately $71.12 million. The second and third transactions involved 13,998 ETH and 20,000 ETH, worth $30.05 million and $42.85 million, respectively. Aside from the purchase, Lookonchain also spotted the destinations of the secured assets, noting that they were moved to two separate wallet addresses. 

It seems that Tom Lee(@fundstrat)'s #Bitmine bought another 67,111 $ETH($145M) from #Kraken in the past 5 hours.https://t.co/YHE7LVj0B6https://t.co/6pRECI1Q5T pic.twitter.com/VzDuf1ky9F

— Lookonchain (@lookonchain) March 25, 2026

The first wallet, “0x7c4…..07134,” holds 33,112 ETH valued at about $71.55 million at an average cost of $2,160.67 per token. The second one, “0xD77…..cA7Bb” holds 33,998 ETH worth $73.46 million at $2,160.67 per token. BitMine’s latest purchase comes a few days after the company acquired 65,341 ETH for $141.8 million.

In addition to purchasing ETH, BitMine has been staking the token. On 21 March, Lookonchain reported that the company staked 94,670 ETH valued at about $204 million. “In total, Bitmine has staked 3,135,185 ETH ($6.75 billion), 68.22% of its total holdings,” the on-chain crypto transaction tracker added. 

ETH’s Price Recovers Slightly as Tom Lee’s BitMine Boosts Holdings

At the time of press, the crypto market is up 0.9%, with a market cap of about $2.517 trillion and a trading volume of $99.574 billion. Similarly, ETH is up 1.4%, trading at $2,166 with a market cap of $261.16 billion and a trading volume of approximately $17.5 billion. In the past week, ETH dropped 7%. However, the asset is up 6.2% 14-day-to-date and 16.5% month-to-date.

On Coincodex, Ethereum’s volatility is high at 5.33%, with a low supply inflation of 0.08%. “Fear & Greed Index” continues to point towards “Extreme Fear,” while sentiment remains bearish. Additionally, ETH has outperformed 80% of top-performing cryptocurrencies with 15 profitable days in the past 30 days. Despite the slight increase in its short-term price variables, Ethereum still trades below its 200-day Simple Moving Average (SMA). 

Whales Continue to Accumulate ETH

Aside from institutional investors like BitMine, whales are also piling up massive ETH holdings. According to Lookonchain, a mysterious whale wallet recently created 10 new wallets and withdrew 83,000 ETH worth $178 million from Binance and Bybit. He also purchased 1.62 million Chainlink (LINK), valued at roughly $14.8 million. Lookonchain added that the whale is likely reorganizing wallets via exchanges. 

Lookonchain stated:

“We noticed multiple wallets depositing 83K ETH ($178 million) and 1.62 million $LINK ($14.8 million) into Flowdesk-related deposit addresses.”

Separately, another whale, with a wallet address labelled 0x7143, withdrew 10,000 ETH worth $21.59 million from Bitget. This whale currently holds 41,308 ETH, valued at about $89.23 million. In another tweet, Lookonchain reported that three new wallets belonging to whales withdrew 54,763 ETH tokens, valued at about $118.24 million, from Binance on 24 March.

On the same day, a newly created wallet labelled “0x8315” withdrew 10,899 ETH worth $23.5 million from Binance. These consistent accumulations underscore strong faith in Ethereum amid unstable price movements. 

Another whale, 0x7143, withdrew 10,000 $ETH($21.59M) from #Bitget an hour ago and now holds 41,308 $ETH($89.23M).https://t.co/swYpkczgIMhttps://t.co/Hlwm24gbBw pic.twitter.com/73v9Sl9XXd

— Lookonchain (@lookonchain) March 24, 2026

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