Meme Insider
<Lookonchain, the go-to on-chain sleuths, just dropped a bombshell on X that's got the crypto world buzzing. Tom Lee's Bitmine has been on a relentless buying spree, scooping up another 138,452 ETH—worth about $434.74 million at current prices—over the past week. That brings their total stash to a whopping 3,864,951 ETH, clocking in at an eye-watering $12.13 billion. If you're into Ethereum or just tracking whale moves, this is the kind of conviction play that screams bullish.
But let's break it down like we're chatting over coffee. Bitmine, under the sharp eye of Fundstrat's Tom Lee, isn't dipping toes—they're diving headfirst into the ETH pool. This latest haul? It's not a one-off. As the official press release confirms, their crypto and cash reserves now top $13.2 billion. That's institutional muscle flexing in a market where retail FOMO often steals the spotlight.
The attached chart from Lookonchain paints a crystal-clear picture of this steady grind. Here's a quick rundown of Bitmine's ETH buys over the last six months (all figures in ETH):
| Period | Buying Amount (ETH) | Ending Balance (ETH) |
|---|---|---|
| Dec 1-7, 2025 | 138,452 | 3,864,951 |
| Nov 24-30, 2025 | 99,798 | 3,726,499 |
| Nov 17-23, 2025 | 69,822 | 3,626,701 |
| Nov 10-16, 2025 | 54,156 | 3,556,879 |
| Nov 3-9, 2025 | 110,288 | 3,502,723 |
| Oct 27-Nov 2, 2025 | 82,353 | 3,395,422 |
| Oct 20-26, 2025 | 77,055 | 3,313,069 |
| Oct 13-19, 2025 | 203,826 | 3,236,014 |
| Oct 6-12, 2025 | 202,037 | 3,032,188 |
| Sep 29-Oct 5, 2025 | 179,251 | 2,830,151 |
| Sep 22-28, 2025 | 234,846 | 2,650,900 |
| Sep 15-21, 2025 | 264,378 | 2,416,054 |
| Sep 8-14, 2025 | 82,233 | 2,151,676 |
| Sep 1-7, 2025 | 202,469 | 2,069,443 |
| Aug 25-31, 2025 | 150,075 | 1,866,974 |
| Aug 18-24, 2025 | 190,526 | 1,716,899 |
| Aug 11-17, 2025 | 373,110 | 1,526,373 |
| Aug 4-10, 2025 | 317,126 | 1,150,263 |
| Jul 29-Aug 3, 2025 | 208,137 | 833,137 |
| Jul 24-28, 2025 | 58,224 | 625,000 |
| Jul 18-23, 2025 | 266,119 | 566,776 |
| Jul 15-17, 2025 | 137,515 | 300,657 |
| Jun 30-Jul 14, 2025 | 163,142 | 163,142 |
Starting from a modest base in late June, they've layered in over 3.7 million ETH through consistent, high-volume purchases. Notice the acceleration in Q4? October alone saw over 565,000 ETH added. It's like watching a snowball turn into an avalanche—slow build, then unstoppable momentum.
Why does this matter, especially if you're knee-deep in meme tokens or DeFi plays? Tom Lee isn't just any talking head; the guy's been calling market turns since the Stone Age of crypto. His bet on ETH aligns with the network's glow-up: think Dencun upgrade slashing fees, restaking protocols like EigenLayer exploding, and layer-2s like Base and Optimism making scalability a reality. With ETH ETFs pulling in billions and the Pectra upgrade on the horizon, whales like Bitmine are positioning for what could be ETH's "supercycle."
Community reactions on the thread are pure fire. One user quipped about Bitmine controlling 3.08% of ETH supply already, hinting at even more dominance in 2026. Another compared it to Michael Saylor's BTC hauls, calling this Monday "juicy af." And yeah, the conviction is palpable—folks are geeking out over tools like SynthOS for cross-chain tracking, because when big money moves, you want to follow without the headache.
For meme coin chasers, this ETH fortress signals stability. Strong ETH fundamentals often lift the whole ecosystem, including those viral tokens riding Solana or Base waves. If Bitmine's all-in vibe holds, we could see ETH testing $5K sooner than skeptics think. Keep an eye on on-chain flows via Lookonchain—they're the early warning system for the next big wave.
What's your take? Is this the spark for ETH's 2026 moonshot, or just another whale flex? Drop your thoughts below—we're building the ultimate meme and blockchain knowledge hub here at Meme Insider.
