Tom Lee’s BitMine buys $199M in Ether over two days; holdings rise to $11.3B as firm eyes 5% target
first published 2025-12-06T11:44:00Z
BitMine Immersion Technologies, chaired by Tom Lee, purchased 22,676 ETH (~$68.67M) from a Bitgo hot wallet on Dec. 6 after buying ~41,946 ETH (~$130.78M) from a FalconX hot wallet the day before. In total BitMine accumulated ~64,000 ETH (~$199M) within 24 hours. The transactions have been interpreted as long-term treasury accumulation and "buying the dip." The buys occurred while Ethereum fell ~3.22% on the day, retesting the $2,900 level and trading around $3,029 at time of writing.
AI Analysis
Large, consecutive on-chain purchases: 22,676 ETH (~$68.67M) on Dec. 6 and ~41,946 ETH (~$130.78M) the day before, totaling ~64,000 ETH (~$199M) in 24 hours; described as long-term treasury accumulation and occurred while ETH slid ~3.22% and retested $2,900.
Impact: High
Sentiment: Bullish
Source Articles
- $68.67 Million in Minutes: Tom Lee's BitMine Buys Ethereum Again - U.Today
- Ethereum (ETH) Price Analysis for December 6 - U.Today
- BitMine buys $199M in Ether as smart money traders bet on ETH decline - Cointelegraph
- BitMine buys $199M in Ether as smart money traders bet on ETH decline - Cointelegraph
