Ethereum’s price has experienced a significant surge over the past week, climbing 10% to reach $3,061. This rise is attributed to several factors, including expanding decentralized finance (DeFi) applications and increased interest from institutional investors. The recent purchase of Ethereum by Tom Lee’s BitMine Immersion Technologies highlights this trend, as the firm has acquired another $44 million worth of ETH, bringing their total holdings to 3.63 million ETH, or about 3% of the entire supply. BitMine plans to stake a substantial portion of its holdings via dedicated validator network starting in 2026, which will further decrease circulating supply and demonstrate long-term commitment.