Bitmine Buys $20M in ETH as Tom Lee Hails Vitalik Buterin’s Store-of-Value Shift

Bitmine Immersion Technologies added 9,587 ETH in a fresh purchase valued at roughly $20 million, lifting its total holdings to 6.07 million tokens as the company works toward its stated goal of owning 5% of Ethereum’s supply. Chairman Tom Lee tied the buy to recent comments from Ethereum co-founder Vitalik Buterin framing ETH as a store of value, a shift Lee characterized as significant for the asset’s investment narrative. The purchase underscores the growing role of corporate treasuries and public companies in absorbing ETH supply. Bitmine’s remaining path to the 5% threshold, and whether other listed firms echo its accumulation strategy, are the key items to watch.