Tom Lee's BitMine expands Ethereum treasury with a purchase of $358 million, ETH price surges. Ethereum is in the spotlight following the massive purchase by BitMine, led by Wall Street veteran Tom Lee. He referred to Ether as the "next Bitcoin," and the market reacted swiftly with a rally. A total of $358 million in ETH was accumulated by BitMine, which purchased 14,665 Ether from Galaxy Digital, worth approximately $65 million, and also received over 65,000 Ether transfers from FalconX in the past 24 hours, valued at $293 million. Overall, the company added $358 million worth of Ether to its portfolio, bringing BitMine's holdings to 1,947,299 Ether, valued at around $8.69 billion. This move follows a purchase of 153,075 Ether worth $668 million in the past week, as BitMine capitalized on the short-term price drop of Ether. With these additions, BitMine has become a clear leader among institutional ETH holders. Its share is now 2.23 times that of the second-largest holder, SharpLink Gaming, which is also expanding its exposure, having purchased over 39,000 Ethers between late August and early September. Tom Lee: Ethereum is like Bitcoin in 2017. This bold strategy comes from Tom Lee, who has publicly stated that Ethereum is undervalued. He compared today's Ether to Bitcoin in 2017 when the leading cryptocurrency began its institutional expansion. Lee even referred to the development of Ethereum as the "1971 moment"—a reference to the U.S. abandoning the Gold Standard and reshaping global finance. He believes that the increasing use of ETH in payments and tokenization could trigger explosive growth. Ether price rises due to institutional demand. The market reacted immediately—Ether surged over 2% in the past 24 hours, extending its monthly rise to 21%, outpacing the broader crypto market. This rally is driven by institutional capital inflows—by 2025 alone, public companies and ETFs have added over 5 million Ether, bringing in over $23 billion in funds. Another strong driving factor is staking, which gained momentum after the SEC clarified that liquid staking is not a security. Currently, over 35.6 million Ethers are staked, accounting for nearly 30% of the total supply. Fed policy as the next catalyst. Lee also emphasized that the next major driver for the crypto market could be the Federal Reserve. Historically, the Fed usually cuts rates in September, and New York Fed President John Williams has hinted that a rate cut may come before the upcoming FOMC meeting. Despite a recent 10-day pullback in Ether, Lee believes this consolidation trend is healthy. However, some analysts warn that short-term resistance levels could trigger a temporary correction before Ether regains full momentum. 👉 Ethereum may now be at the position Bitcoin was seven years ago—on the brink of mass institutional adoption. If Tom Lee's predictions are correct, ETH could be heading towards explosive growth. #Ethereum , ETH, #CryptoAnalysis , CryptoMarket, #CryptoAdoption Stay one step ahead—follow our profile for all the important updates in the cryptocurrency world! Notice: The information and opinions provided in this article are for educational purposes only and should not be construed as investment advice under any circumstances. The content on these pages should not be considered financial, investment, or any other form of advice. We remind you that investing in cryptocurrencies can be risky and may lead to financial loss.