Institutional Ethereum Treasury Buys Every Week: 144k Left to 6 Million ETH Goal

Bitmine purchased 27,180 Ethereum worth approximately $68 million last week, bringing its total reserves to 5,956,378 ETH.

Bitmine, one of the largest Ethereum-focused institutional treasury companies, announced its purchase from last week in a statement on Monday. The company’s purchase of 27,180 ETH was worth approximately $68 million while the Ethereum price was hovering just above $2,500.

With this purchase, Bitmine’s Ethereum reserves rose to 5,956,378 ETH. While the total Ethereum supply stands at approximately 122 million tokens, the company aims to collect 6.1 million ETH, which corresponds to about 5% of the supply. Bitmine needs to purchase approximately 144,000 more ETH to reach this level.

The company’s weekly purchase amount remained close to the previous week. Bitmine has added ETH to its reserves every week since launching its Ethereum treasury strategy in June 2025.

Bitmine’s Ethereum Goal Draws Near

Bitmine Chairman and Fundstrat founder Tom Lee drew attention to Ethereum’s performance against Bitcoin in addition to the regular purchases. According to Lee, the ETH-BTC ratio reached its highest level since January 30 and broke the downward trend that had been ongoing since 2022 to the upside.

Lee stated that this movement could reflect Ethereum’s strengthening position as the transaction infrastructure for tokenized assets on Wall Street. He also argued that Ethereum could play a central role in transactions involving AI agents.

Other possible developments Lee pointed to included the vote on a bill regarding the structure of cryptocurrency markets expected to take place in the U.S. Senate on Tuesday and South Korean investors increasing their cryptocurrency purchases again.