Ether Approaches $2,200 as Tom Lee's Bitmine Adds $145M Worth of ETH to its Treasury

TL;DR

• BitMine added 67,111 ETH worth about $145 million on Tuesday, according to onchain analysts.

• Ether is now approaching $2,200 after briefly dropping below $2,100 on Tuesday.

BitMine continues its Ether Acquisition Strategy

Bitmine Immersion Technologies, the Ethereum treasury firm chaired by Fundstrat's Tom Lee, announced on Tuesday that it added another $145 million worth of ether to its holdings.

Onchain analytics provider Lookonchain, citing Arkham data, reported that Bitmine purchased 67,111 ETH worth roughly $144.8 million from Kraken on Tuesday via two addresses.

Thanks to this latest acquisition, BitMine now holds  4.66 million ETH ($10 billion) recorded as of March 22, representing around 3.86% of Ethereum's current circulating supply.

The company added that it had acquired 65,341 ETH since its previous update on March 16.

While commenting on this latest acquisition, Tom Lee stated that,

"Bitmine has maintained the increased pace of ETH buys in each of the past three weeks, as our base case is ETH is in the final stages of the 'mini-crypto' winter."

BitMine is currently the largest known ether treasury holder, followed by SharpLink Gaming with about 863,021 ETH and The Ether Machine with around 496,712 ETH.

Ether, the second-largest cryptocurrency by market cap, is trading at $2,172 per coin, up 1% in the last 24 hours. The coin is approaching the $2,200 level but remains down more than 55% from its record high of around $4,900 reached in August 2025.