Tom Lee Expands ETH Position with $150M Buy as Future Forecasts Begin Rising

Tom Lee, co-founder of BitMine and head of Fundstrat, expanded his Ethereum position this week with a $150 million purchase. The acquisition comes amid a broader slowdown in ETH accumulation by other digital asset treasuries. BitMine, the Ethereum treasury firm led by Lee, now holds over 3% of the total circulating supply of Ethereum.

BitMine Acquires Over 48,000 ETH via Kraken and BitGo

In the latest transaction, BitMine acquired a total of 48,623 ETH using two separate exchanges. The firm secured 30,278 ETH through Kraken and another 18,345 ETH through BitGo. According to Arkham, two newly created wallets were used to execute the withdrawals. One wallet moved $92 million worth of ETH from Kraken, while the second transferred $58 million from BitGo.

TOM LEE JUST BOUGHT $150M ETH

Two fresh wallets just withdrew $92M of ETH from Kraken, and $58M from Bitgo, matching prior Bitmine purchase patterns.

Arkham noted that these wallet movements align with previous BitMine purchasing behavior. The structure and timing of the transactions mirrored those seen in earlier acquisition rounds, indicating consistent buying patterns. This latest activity underscores BitMines continued focus on accumulating large volumes of Ethereum through tracked methods.

ETH Treasury Holdings Grow as Other Buyers Slow Down

While BitMine has continued its buying trend, other digital asset treasuries have shown a decrease in ETH purchases. According to Bitwise data, treasury acquisitions dropped from 1.97 million ETH in August to 370,000 ETH in November.

During the final week of November alone, BitMine added 96,798 ETH to its holdings, pushing its treasury above 3% of the circulating supply. Despite the broader market slowdown, BitMines strategy has remained steady. The recent acquisition further distances its pace from other firms within the same sector.

Ethereum Price and Market Reaction Remain Volatile

At the same time, Ethereum‘s price stood at $3,141.57, with a 24-hour trading volume of $25.2 billion. BitMine’s buying came days, in which Tom Lee projected ETH to reach $7,000–$9,000 by January 2026.

He linked his outlook to Ethereum‘s upcoming Fusaka upgrade and the Federal Reserve’s end to quantitative tightening. Despite recent price fluctuations, wallet data continues to reflect long-term acquisition behavior