Bitmine buys more ether as Tom Lee says rising ETH/BTC ratio points to stronger crypto prices

FinanceBitmine buys more ether as Tom Lee says rising ETH/BTC ratio points to stronger crypto pricesThe Ethereum treasury company added nearly 10,000 ETH while expanding its stock buyback, citing ether outperforming bitcoin is sending a bullish signal.By Krisztian Sandor|Edited by Oliver Knight Jul 27, 2026, 12:55 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowBitmine bought 9,946 ether last week, lifting its holdings to 5.79 million ETH ($11.2 billion), or about 4.8% of ether’s circulating supply, as it pursues a long-term goal of owning 5%.The company also stepped up share repurchases, buying back 6.1 million shares under its $4 billion buyback authorization, up from 5.5 million the previous week.Chairman Tom Lee cited ether’s outperformance of bitcoin and a three-month high in the ETH/BTC ratio, along with ETH’s 24% monthly gain and recent price recovery, as signs of strengthening crypto market sentiment.Bitmine (BMNR), the largest Ethereum treasury company, continued its ether (ETH) purchases last week as Chairman Tom Lee pointed to ether (ETH) outperforming bitcoin BTC$65,027.16 as evidence the crypto market is regaining momentum.The company bought 9,946 ETH, worth about $19.4 million at current prices, up from 7,430 ETH the previous week, according to a Monday update. The purchase lifted Bitmine's holdings to 5,787,414 ETH ($11.2 billion), or about 4.8% of ether’s circulating supply.Lee said Bitmine also increased its share repurchases, buying back 6.1 million shares, compared with 5.5 million a week earlier, under its $4 billion buyback authorization.The latest purchase remains well below the company's buying pace earlier this year, when Bitmine routinely acquired tens of thousands of ETH each week. Even so, the company has continued adding to its treasury every week since launching the strategy in June 2025 and now owns roughly 4.8% of Ethereum's total supply, putting it …

Bitmine buys more ether as Tom Lee says rising ETH/BTC ratio points to stronger crypto prices

Coins in this story

Related stories

Thailand's SEC alleges Bitkub concealed cyberattack that led to $50 million hack

Nvidia forms 37-member AI security alliance without OpenAI, Anthropic or Google

Strategy Adds $525M to Cash Reserve, Skips Bitcoin Buy for Fifth Week