BitMine Immersion Technologies added 208,137 ETH to its treasury last week, totaling over $3 billion in holdings as Ether’s price surged. ETH reached $3,730 on Monday but fell to $3,654. Fundstrat’s Tom Lee chairs BitMine, attracting investment from Bill Miller III, Stanley Druckenmiller, and Cathie Wood.

Institutional confidence boosts ETH’s triple-digit rally, closing in on Bitcoin and Solana. BitMine leads the ETH accumulation race, growing holdings to 833,000 ETH in 35 days. Competitors like SharpLink Gaming and The Ether Machine are close behind, sparking a competitive race among Ethereum treasury firms.

Tom Lee predicts a strong rally in August, citing favorable labor data and a potential shift in Federal Reserve policy. He anticipates the S&P 500 hitting all-time highs, which could positively impact the crypto market. Lee’s bullish sentiment aligns with a potential market-wide upswing, including Ether.

Read more at Cointelegraph: BitMine’s ETH Holdings Surpass $3B On Latest Buy