Tom Lee's BitMine Buys $52 Million in Ethereum as Strategy Sells Bitcoin
Key takeaways
- Bit Mine purchased another 26,497 ETH or around $52 million worth as Ethereum trades at $1,967 on Monday, dipping below $2,000 for the first time since March 29, according to data from CoinGecko.
- (Disclaimer: Tom Lee is an investor in Dastan, Decrypt’s parent company.)
- BitMine’s latest purchase is a big step down from last week’s buy of nearly 112,000 ETH, its largest of 2026.
Tom Lee's Bit Mine Buys $52 Million in Ethereum as Strategy Sells Bitcoin Logan Hitchcock Mon, June 1, 2026 at 11:25 PM GMT+7 2 min read ETH-USD BMNR MSTR BTC-USD Publicly traded Ethereum treasury firm Bit Mine Immersion Technologies once more added to its ETH position last week, even as its Bitcoin-centric counterpart Strategy sold BTC for the first time since 2022.
Bit Mine purchased another 26,497 ETH or around $52 million worth as Ethereum trades at $1,967 on Monday, dipping below $2,000 for the first time since March 29, according to data from CoinGecko.
“In our view, ETH prices are not reflecting the strengthening of Ethereum fundamentals, but then again, this is not surprising given we are in the early stages of crypto spring,” said BitMine Chairman Tom Lee in a statement. (Disclaimer: Tom Lee is an investor in Dastan, Decrypt’s parent company.)