Bitmine Buys 71K ETH During Price Dip, Tom Lee Confirms
Bitmine Immersion Technologies, the largest Ethereum (ETH) treasury company, has added 71,672 ETH to its holdings during a recent price pullback. Chairman Tom Lee confirmed the acquisition, describing Ether‘s dip below $2,200 as an “attractive opportunity.” The move brings Bitmine’s total holdings to over 5.2 million ETH, with a long-term goal of controlling 5% of the tokens circulating supply. As of May 19, 2026, Ether is trading at $2,133.92, reflecting minimal day-over-day change. Over the past week, ETH has ranged between $2,081 and $2,341, pressured by bearish sentiment and broader market challenges. The token is down 57% from its August 2025 all-time high of $4,946, with analysts warning of potential downside toward $1,700 amid rising exchange supply and fading ETF demand. Bitmine‘s strategy mirrors the Bitcoin-focused treasury approach of Michael Saylor’s MicroStrategy, consistently accumulating ETH during periods of weakness. Earlier this month, the firm purchased 26,659 ETH between May 4 and May 11, although this marked a slowdown from its prior pace of over 100,000 ETH per week. The companys latest acquisition comes amid reports of renewed buying activity by long-dormant Ethereum whales. Blockchain analytics platform Lookonchain noted that a whale who previously sold their ETH holdings returned to the market last








