Bitmine, led by Tom Lee of Fundstrat, has expanded its Ethereum holdings by purchasing an additional 51,162 ETH valued at $98.33 million last week. This acquisition brings Bitmine's total Ethereum holdings to 4,422,659 ETH, currently valued at approximately $8.5 billion. Despite the substantial investment, the average acquisition cost of $3,821 per ETH means the position is currently down nearly $8.4 billion at present market prices.