- BitMine added $358 million worth of Ethereum, lifting its holdings to nearly 1.95 million ETH.
- ETH’s price rose 1.47% in 24 hours, extending a monthly rally supported by institutional inflows and staking growth.
Ethereum has caught the spotlight once again, this time with a massive move from Tom Lee’s BitMine. The company quietly accumulated $358 million worth of ETH, strengthening its already impressive treasury and putting fresh fuel behind Ethereum’s ongoing rally.
With ETH gaining 1.47% in 24 hours and stacking a 21% monthly rise, BitMine’s play underscores how institutions continue to see value in Ethereum even when short-term volatility clouds the market.
Institutional Demand for Ethereum Strengthens as BitMine Leads the Charge
Fresh data from Lookonchain revealed that BitMine secured 14,665 ETH from Galaxy Digital in the past day, worth about $65 million. On top of that, FalconX transferred more than 65,000 ETH into new wallets, bringing the week’s total purchases to an impressive $358 million. This buying spree comes shortly after BitMine added 153,075 ETH worth $668 million, signaling a calculated strategy to accumulate during periods of price dips.
Institutions keep buying $ETH!#Bitmine received 14,665 $ETH($65.3M) from #GalaxyDigital an hour ago.
3 newly created wallets received 65,662 $ETH($293M) from #FalconX just now.https://t.co/P684j5YQaGhttps://t.co/vNB1XR72XQhttps://t.co/H13J8ii7ovhttps://t.co/bMMqfZiJ7M pic.twitter.com/QiFMuyigOk
— Lookonchain (@lookonchain) September 4, 2025
Institutional buying has been one of the biggest drivers of Ethereum’s latest rally. Public firms and ETFs collectively added more than 5 billion ETH in 2025, accounting for $23 billion in inflows.
Ethereum Adoption Grows as Staking and Policy Signals Shape the Market
BitMine’s co-founder Tom Lee has been outspoken about Ethereum’s untapped potential. Comparing ETH today to Bitcoin in 2017, he believes institutional recognition is still in its early stages. He even called Ethereum’s current trajectory its “1971 moment”, likening it to the U.S. leaving the gold standard, a shift that redefined global finance.
The network itself continues to strengthen with more than 35.6 million ETH now staked, representing nearly 30% of supply. This follows the SEC’s clarification that liquid staking products should not be classified as securities.
Meanwhile, traders are watching macro conditions. Lee also noted the possibility of Federal Reserve rate cuts coming later this month as officials such as New York Fed President John Williams remain optimistic on possible policy shifts. Historically, such moves have backed risk assets like crypto, thereby adding another catalyst for Ethereum’s rally.
At press time, Ethereum (ETH) was trading at approximately $4,374, showing a drop of 5.22% over the past seven days.
