'Upside move in ETH was overdue,' Tom Lee says as Bitmine buys another 32,447 ether

Tom Lee-chaired Ethereum treasury company Bitmine Immersion's (BMNR) holdings have reached 5,847,611 ETH — worth around $14.7 billion at current prices — following its latest weekly acquisitions.

Bitmine bought another 32,447 ETH since its last update on Aug. 17, reporting its total crypto, cash, marketable securities, and other investments stood at $14.9 billion on Monday.

Bitmine did not disclose the average purchase price, but at current prices, its latest acquisition is worth around $81.5 million.

"ETH gained 30% in the past week.

This is the largest weekly gain since May 2025, prior to that it was July 2021.