Bitmine Immersion Technologies (BMNR -7.14%) is a digital asset treasury (DAT) company led by chairman Tom Lee, and it’s been buying Ethereum (ETH -2.67%) weekly for 14 months. On Aug. 17 alone, it bought 9,926 ETH worth around $19 million, only to buy another 32,447 ETH just six days later. The coin’s price is up by 28% in the 30 days ending on Aug. 27 alone, a stunning reversal after months of weakness.

But does any of this mean investors should load up on Ethereum like Tom Lee is?

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Bitmine is playing a different game than individual investors

As a digital asset treasurer, Bitmine is designed to buy and hold as much of one crypto asset as it can get its hands on. In this case, that asset is Ethereum.

The…