BitMine holds 3.86 million ETH after accumulating an additional 33,504 ETH

Lookonchain reports that BitMine Immersion Technologies purchased 33.504 ETH valued at approximately $112 million from FalconX in just six hours, continuing the strong accumulation trend of this organization. BitMine, chaired by Fundstrat co-founder Tom Lee, is currently the largest publicly traded company holding ETH, with over 3.86 million ETH following a series of buy transactions exceeding $400 million recently.

This move reflects Tom Lee's optimistic outlook that Ethereum has bottomed out amid the volatile 2025 market. The rapid accumulation, occurring as ETH recovers from lows, indicates increasing confidence within the organization in the long-term value of the network. On-chain data also shows reduced selling pressure from exchanges, creating a more favorable environment for the accumulation trend.