Bitmine makes largest ether purchase since June as Tom Lee points to crypto's strong Q3

Bitmine Immersion Technologies bought 53,501 ether worth roughly $131.3 million, its largest purchase since June, following a prior week's 32,447 ETH acquisition. Holdings now total 5,901,112 ETH, about $14.5 billion, or 4.9% of Ethereum's 120.7 million token supply—roughly 134,000 tokens short of its 5% target. The buying resumed after a summer slowdown, with weekly purchases falling below 10,000 ETH in July and August. Chairman Tom Lee cited ether's 55% August rally and bitcoin's 34% gain, saying the outperformance could prompt institutions to add crypto holdings.

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