Choose Rich Live
Crypto News

Tom Lee-linked Bitmine buys 5,000 ETH for $11.22M, Lookonchain reports

On-chain analytics account Lookonchain reported that Bitmine, linked to Tom Lee, bought 5,000 ETH worth $11.22 million from Kraken, raising its treasury balance to 6.065 million ETH.

Arkham transaction log displaying a transfer of 5,000 ETH worth $11.22 million from Kraken Hot Wallet to Bitmine.
Image: @lookonchain

Bitmine, linked to Fundstrat's Tom Lee, acquired an additional 5,000 ETH valued at approximately $11.22 million, according to on-chain analytics platform Lookonchain. An Arkham transaction record shared by Lookonchain shows the 5,000 ETH moving from a Kraken hot wallet to a Bitmine wallet address. Crypto outlet Cointelegraph also noted the purchase, reporting it at $11.2 million.[1][2]

With the latest acquisition, Bitmine holds 6.065 million ETH valued at about $13.7 billion, representing 4.96% of Ethereum's total supply, according to Lookonchain. Cointelegraph similarly reported that the entity now commands about 5% of all circulating ether.[1][2]

The Arkham data log displayed in Lookonchain's post also detailed earlier wallet activity from Bitmine 13 days prior. Those records include transfers of 24,544 ETH valued near $59.99 million each to an external wallet, as well as several separate 1,900 ETH transactions directed into the Eth2 Beacon Deposit Contract.[1]

Key facts

  • Lookonchain reported that Tom Lee-linked Bitmine bought 5,000 ETH for $11.22 million.
  • Arkham transaction data shows the 5,000 ETH transferred from Kraken's hot wallet into a Bitmine address.
  • Bitmine holds 6.065 million ETH worth about $13.7 billion, equal to roughly 4.96% of the total ETH supply.
  • Arkham records show Bitmine sent 24,544 ETH transfers worth nearly $60 million and several 1,900 ETH deposits to the Eth2 Beacon Deposit Contract 13 days before the latest buy.

Sources 路 2 sources

  1. LO

    Lookonchain@lookonchainPost on X 路

    Tom Lee (@fundstrat)'s #Bitmine bought another 5,000 $ETH ($11.22M) 6 hours ago. Bitmine now holds 6.065M $ETH ($13.7B), 4.96% of the total supply. https://t.co/f70iddoJZ2 https://t.co/OaIcI7icJD

    Open source
  2. CO

    Cointelegraph@CointelegraphPost on X 路

    馃敟 TODAY: Tom Lee鈥檚 Bitmine bought another 5,000 ethereum:native worth $11.2M and now holds 6.065M ethereum:native , about 5% of the total supply. https://t.co/1xczUu5ctV

    Open source