Tom Lee’s BitMine Purchases 65,000 Ethereum Worth $147 Million

Highlights:

• Tom Lee’s BitMine has purchased an additional 65,000 Ethereum tokens worth roughly $147 million in just 24 hours. 
• The investment firm currently owns over 5 million ETH, valued at around $12 billion.
• Aside from purchasing ETH, BitMine has staked over 70% of its ETH holdings to generate more yields.  

According to Lookonchain, Tom Lee’s BitMine Immersion Technologies has acquired an additional 20,000 Ethereum (ETH) tokens worth $44.8 million. Before this purchase, the on-chain tracker earlier reported that BitMine had secured 45,000 ETH valued at approximately $103.5 million from FalconX and BitGo. Overall, the investment firm acquired roughly 65,000 ETH worth approximately $147 million within 24 hours. 

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On April 27, Lookonchain reported that BitMine accumulated 101,901 ETH worth roughly $236 million between April 20 and April 26. This is the company’s highest weekly purchase in a very long time. Meanwhile, between April 13 and April 19, the investment firm added 101,627 ETH valued at approximately $235 million.

The company has been consistently growing its ETH reserves and currently holds over 5 million Ethereum tokens valued at around $12 billion. The company owns the most valuable ETH treasury and ranks second behind Michael Saylor’s Strategy in global treasury valuation.  

Tom Lee(@fundstrat)'s #Bitmine bought another 20,000 $ETH($44.8M) 3 hours ago, bringing his total purchases to 65,000 $ETH ($147M) over the past 24 hours.https://t.co/JhsgmLa9xn pic.twitter.com/9wY8MMhh5M

— Lookonchain (@lookonchain) April 30, 2026

BitMine’s Chairman Explains Reasons for ETH’s Impressive Market Performance

According to Tom Lee, several studies have shown increased confidence in ETH as more than just a trading asset. Citing an example, the Chairman noted that findings from Etherealize suggest that ETH is beginning to act as a store of value. This simply means that people are beginning to hold the asset long-term, just like gold. Lee also explained how recent market trends support this view. 

Per the BitMine Chairman, Ethereum has performed much better than traditional markets since the Iran conflict began. Lee also noted that Ethereum has beaten the S&P 500 by a very wide margin, estimated to be roughly 1,696 basis points. In addition, the asset has stood out as one of the top-performing assets globally, second only to rising oil prices. Summarizing his take on ETH’s remarkable performance, the BitMine founder stated that the asset is benefiting from two major trends. 

Tom Lee stated:

“Ethereum continues to benefit from the dual tailwinds of Wall Street tokenizing on the blockchain and from agentic AI systems increasingly needing public and neutral blockchains. In our view, there is a lot of meaning to ETH being the best ‘war-time store of value’ and to ETH being the asset leading since the war started.” 

BitMine Invests in Staking System Amid 65K ETH Purchase

Aside from accumulating ETH, BitMine is designing its staking system called MAVAN, short for Made in America Validator Network. The Platform was initially designed to manage the company’s ETH holdings. However, it has now been opened up to serve larger investors, custodians, and other partners seeking reliable staking services. BitMine has already staked some portions of its ETH holdings on this platform. 

As of April 28, the investment firm has staked 3.8 million ETH, worth roughly $8.8 billion based on current prices, making BitMine one of the largest ETH stakers in the world. If BitMine stakes all its ETH holdings through MAVAN and its partners, the company is expected to generate at least $363 million every year from staking rewards. Meanwhile, Ethereum is changing hands at approximately $2,257 following a 2.9% decline in the past 24 hours. The asset has a market cap of $272.5 billion with a trading volume of roughly $18.7 billion.

Tom Lee(@fundstrat)'s #Bitmine staked another 112,656 $ETH($260M).

In total, #Bitmine has staked 3,814,245 $ETH($8.8B), 75.11% of its total holdings.https://t.co/P684j5YQaG pic.twitter.com/Nbaw3wKpux

— Lookonchain (@lookonchain) April 28, 2026

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