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BULLISH 55 The Block 1H ago · 1 min read 2 reads

Tom Lee’s Bitmine buys $20 million ETH, nears 5% supply target on AI supercycle bet

Tom Lee’s Bitmine buys $20 million ETH, nears 5% supply target on AI supercycle bet
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AI summary

Tom Lee's Bitmine bought another 9,587 ETH last week, valued at roughly $20 million, as it closes in on a target of holding 5% of Ethereum's circulating supply. Lee tied the accumulation to his thesis of a tokenization and AI 'supercycle' driving demand for ETH. Traders watch large corporate ETH treasuries as a signal of institutional conviction and a potential supply squeeze.

Read at source The Block Also reported by Unchained Follow ETH
Narrative history
22 linked stories · 8 outlets · since 12 Oct
  1. 20M AGO
    BitMine buys another 9,500 ETH as Tom Lee backs Buterin’s Ethereum vision
    CryptoPotato · Score 45 · via BitMine buys, BitMine
  2. 1H AGO
    You’re reading this
    Tom Lee’s Bitmine buys $20 million ETH, nears 5% supply target on AI supercycle bet
    The Block · Score 55
  3. 2 NOV · 19:46
    Tom Lee Calls Bottom on AI Stock Selloff, Citing Tight Supply and Crypto Resilience
    Decrypt · Score 25 · via Lee Calls, Stock Selloff
  4. 2 NOV · 16:23
    Bitmine Buys More Ethereum as Tom Lee Calls the Binance Hack Bullish
    Decrypt · Score 45 · via Bitmine Buys, Bitmine
  5. 2 NOV · 15:55
    Bitmine Hits 99% of Ether Goal as Tom Lee Downplays Impact of $6.3B Binance Hack
    Bitcoin.com News · Score 45 · via Bitmine, Tom
  6. 2 NOV · 14:30
    Bitmine Slows to 8,573 ETH Buy as Tom Lee Downplays Binance Hack
    Unchained · Score 45 · via Bitmine, $15B
  7. 2 NOV · 14:06
    BitMine’s ETH stash reaches 6.06 million as Tom Lee says bull market still alive
    CryptoPotato · Score 55 · via Lee bull, Lee
  8. 26 OCT · 17:13
    Bitmine buys 10,452 ETH but holdings value falls to $15 billion
    Unchained · Score 35 · via Bitmine, Bitmine buys
  9. 26 OCT · 16:05
    Tom Lee’s Bitmine favors share buybacks to ether purchases as crypto declines
    CoinDesk · Score 35 · via Bitmine, Lee
  10. 26 OCT · 14:12
    Tom Lee says crypto bull market underway as Bitmine adds 10,452 ETH
    The Block · Score 35 · via 10,452, 10,452 ETH
  11. 26 OCT · 13:50
    Bitmine adds 10,452 ETH as share buybacks approach $400M
    crypto.news · Score 55 · via 10,452, 10,452 ETH
  12. 23 OCT · 02:05
    Tom Lee: yields below 5% signal the AI selloff is nearly over
    BeInCrypto · Score 25 · via Tom, Lee
  13. 22 OCT · 12:30
    Tom Lee Says Bitmine Will Stop Buying ETH at 5% of Supply
    Bitcoin.com News · Score 45 · via Lee Bitmine, 5% Supply
  14. 20 OCT · 05:14
    Tom Lee says chip selloff spillover into crypto is a buying opportunity
    BeInCrypto · Score 25 · via Lee, Tom
  15. 19 OCT · 17:55
    BitMine buys 12535 ETH as Tom Lee blames macro and tech headwinds
    CryptoPotato · Score 25 · via BitMine buys, Lee
  16. 19 OCT · 17:55
    Bitmine adds ether as Tom Lee pins crypto dip on AI fears
    Bitcoin.com News · Score 45 · via Bitmine, Tom
  17. 19 OCT · 15:13
    Bitmine adds $30 million in Ethereum as its buying nears the finish line
    Decrypt · Score 45 · via Bitmine, Lee
  18. 19 OCT · 13:36
    Bitmine buys 12535 ETH, lifting treasury to 6.04 million tokens
    The Block · Score 45 · via 12535, 12535 ETH
  19. 19 OCT · 05:55
    Tom Lee calls stock selloff a buying chance for crypto and chip stocks
    BeInCrypto · Score 25 · via Lee calls, Tom
  20. 14 OCT · 01:28
    Tom Lee says AI is in 1997 phase, not 1999, with bubble peak possibly 2033
    BeInCrypto · Score 15 · via Tom, Lee
  21. 12 OCT · 15:27
    Tom Lee predicts $2 trillion wealth transfer will drive crypto demand as Bitmine adds ether
    CoinDesk · Score 47 · via adds ether, Bitmine
  22. 12 OCT · 13:43
    Bitmine buys 12532 ETH as Tom Lee calls coming crypto bull market the largest ever
    The Block · Score 47 · via Lee calls, Bitmine buys
  23. 12 OCT · 13:33
    Bitmine adds $32M in Ethereum as Tom Lee says firm nearly done stacking
    Decrypt · Score 42 · via Bitmine adds, Bitmine
Most read · 72h