Tom Lee has purchased $100 million worth of ETH in the past 24 hours.

According to data from Arkham, Bitmine has bought around $112 million worth of Ethereum in the last 24 hours.

The company’s total ETH holdings have reached 3,898,455 ETH, which is roughly $12.41 billion.

The data indicates that Fundstrat co-founder Tom Lee has been making aggressive purchases on the ETH side. Although the market appears cautious in the short term, these large-scale acquisitions show that institutional investors continue to maintain their long-term expectations for Ethereum.