- Bitmine purchased 112k ETH last week, its largest purchase in 2026.
- The treasury now holds 5.4 million ETH, 88% of the ETH it needs to achieve its 5% supply target.
- Tom Lee, the founder of Bitmine, expects a massive rally in Ethereum driven by Agentic AI demand and tokenization.
Bitmine Makes Largest Bitcoin Purchase Ever
Bitmine, the largest Ethereum treasury founded by Tom Lee, bought 112,000 ETH last week, a purchase worth over $237 million. This purchase comes amid a week of market turmoil due to several crises unfolding simultaneously, including the West Asian conflict, fuel crisis, trade crisis, and liquidity crisis in the crypto markets.
However, crypto corporations have been taking full advantage of this situation to purchase record amounts of cryptocurrencies for their treasuries. Similar purchases have been made by Strategy, which holds nearly 800,000 bitcoin, as of May 2026.
Massive Rally Coming in Ethereum, Bitmine Calls it a Supercycle
Bitmine Ethereum Treasury founder Tom Lee has been expecting one of the largest Ethereum supercycles, i.e., one of the biggest rallies in the market ever.
An altcoin super cycle has been missing in the crypto markets since the start of 2024, as Ethereum seems to have crossed its previous all-time high of $4800, set in November 2021. The delay has reportedly been caused by Bitcoin’s increasing dominance amid treasury and ETF surge, whereas Ethereum ETFs have lagged in performance.
There are several factors that position Ethereum as one of the strongest altcoins, should there be a rally in the markets.
- Ethereum plays a central role in DeFi, where thousands of DeFi protocols’ debt and hundreds of layer-two and layer-three projects depend on its infrastructure.
- The Ethereum Blockchain has been slowly emerging as a central player in asset tokenization, with the largest RWA funds, such as BlackRock, deploying most of their money market assets on its blockchain.
- We have recently covered that the Ethereum Foundation has been trying to limit its token sales, which has been one of the key reasons for falling prices of ETH.
Disclaimer: BFM Times acts as a source of information for knowledge purposes and does not claim to be a financial advisor. Kindly consult your financial advisor before investing.
