Tom Lee's cryptocurrency firm BitMine (ticker: BMNR) has made substantial purchases of Ethereum (ETH) over the past several weeks, significantly increasing its holdings. In the past week alone, BitMine acquired approximately 190,500 ETH valued at around $883 million, bringing its total Ethereum treasury to roughly 1.71 million ETH worth about $7.94 billion. Subsequent purchases added thousands more ETH, including an additional 4,871 ETH valued at $21.28 million and 42,867 ETH worth $198 million. Over a three-day span, BitMine acquired 78,791 ETH valued at $354.6 million, raising its total Ethereum holdings to approximately 1.79 million ETH with a market value exceeding $8 billion. Overall, BitMine now holds over $8.8 billion in crypto and cash, making it the largest Ethereum treasury globally and second overall behind MicroStrategy. The firm’s aggressive accumulation reflects growing institutional confidence in Ethereum’s long-term value, with Tom Lee reportedly targeting a 5% stake of the total ETH supply, which would equate to $27 billion at current prices. BitMine’s average acquisition cost per ETH is approximately $3,868 to $3,875.