Bitmine Immersion Technologies (NYSE:BMNR), a firm tied to Wall Street strategist Tom Lee, has just purchased roughly $233 million worth of Ethereum (CRYPTO: ETH). That is more than 100,000 ETH added in a single move, and it stands as one of the largest corporate Ethereum buys we have seen this year.

When one of Wall Street’s most respected voices puts such a huge amount into a single asset in seven days, it's a clear statement.

BitMine Just Cornered 4% of Ethereum’s Entire Supply

Since december, 2025, this is the largest weekly ethereum purchase. Right now, BitMine Immersion Technologies hold close to 4% of the entire ethereum supply with nearly 5 million ETH tokens sitting in its balance sheet. 

Bitmine is not jumping in and out of Ethereum with the aim to catch short-term price swings. The company has been building its position steadily, and this latest purchase is just another step in that direction.

The message behind this massive move is simple: tom lee believes ethereum will be worth a lot more over time, and investors shouldn't take this signal likely.

While many believe the crypto winter may last through the fall of 2026, Lee's view is slightly different. He believes that the next bull run is right around the corner. Comin from someone with an indismissable track record, this isn't just another "mere" prediction. 

Right now, Ethereum isn't just another cryptocurrency. It's fast becoming a major infracstructure for the next phase of global finance. 

The Quiet Profit Engine Behind BitMine’s Ethereum Strategy

BitMine has staked more than 3 million ETH, approximately two-thirds of its total holdings, which is estimated to generate roughly $300 million in annualised staking revenue. That means the company does not need ETH’s price to explode tomorrow to justify its position. The asset is already paying them while they wait.

This transforms the investment thesis entirely. BitMine is running a yield-generating Ethereum treasury that produces hundreds of millions in annual revenue regardless of short-term price movement. That is a fundamentally different risk profile from buying ETH and hoping it goes up.

Even with the unrealized loss of more than $6 billion, the company still continues to buy aggressively while passively earning over $200 million in staking revenue. 

BitMine Is Now Buying Ethereum Directly From Its Creators

Layered on top of the weekly purchase is a separate transaction that deserves its own attention.

The Ethereum Foundation finalised a deal to sell 10,000 ETH directly to BitMine at an average price of $2,387, marking the second time the Foundation has sold ETH to BitMine directly through an over-the-counter transaction.

When the organisation that oversees Ethereum’s development is selling directly to you, it signals a level of institutional credibility that goes beyond standard market purchases. 

The Ethereum Foundation does not sell to just anyone. The fact that BitMine has now become a repeat direct buyer from the Foundation is a detail that the broader market appears to be underpricing.

What This Means for ETH Investors Right Now

The largest institutional holder of Ethereum is accelerating its buying pace, generating hundreds of millions in staking income, buying directly from the Ethereum Foundation, and publicly calling the bottom of the current crypto downturn. Every one of those data points points in the same direction.

Since 2018, Ethereum has experienced eight separate declines of 50% or more from recent highs and has staged a V-shaped recovery after each one. Lee has noted that in 2025, ETH fell 64% between January and March before rallying to nearly $5,000.

If that pattern holds, the investors who are sitting on the sidelines waiting for certainty before buying will be the ones explaining why they missed it.

Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.