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.

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