BitMine Adds $44 Million In ETH While Targeting 5%Total Supply

TLDR

• BitMine reportedly bought 14,618 ETH worth $44.34M through BitGo.
• BitMine’s total ETH holdings are around 3.63 million, or 3% of supply.
• Tom Lee predicts ETH will hit $7K–$9K by January 2026 despite downturns.
• ETH is currently trading at $3,018, down 0.69% from the previous day.

BitMine Immersion Technologies has reportedly added another 14,618 ETH to its treasury, valued at $44.34 million. This follows a $200 million Ethereum purchase earlier this month. While the latest transaction has yet to be confirmed by the company, it aligns with BitMine’s ongoing strategy to secure 5% of Ethereum’s total supply. Chair Tom Lee maintains an optimistic forecast for Ethereum’s future value.

BitMine Adds $44M in Ethereum Despite Market Weakness

BitMine Immersion Technologies has reportedly expanded its Ethereum reserves with a new purchase worth $44.34 million. The blockchain analytics platform Lookonchain, using Arkham Intelligence data, indicated that the company acquired 14,618 ETH through a wallet labeled “0xbd0…E75B8” via BitGo. The purchase occurred at approximately 5:07 p.m. on Thursday. However, BitMine has not officially confirmed the transaction.

This move comes shortly after BitMine announced a $200 million Ethereum purchase earlier in the month. The company now holds an estimated 3,629,701 ETH, representing about 3% of the total Ethereum supply. The recent activity aligns with BitMine’s long-term plan to control 5% of the circulating ETH.

BitMine Aims for 5 Percent Ownership of Ethereum

According to prior statements, BitMine is working to accumulate a 5% share of Ethereum’s total supply. The company believes Ethereum is key to the future of financial services and blockchain infrastructure.

“Ethereum is a truly neutral chain that both Wall Street and the White House can support,” said Tom Lee, Chair of BitMine, during a recent interview.

The company continues to increase its holdings even amid recent downturns in the broader cryptocurrency market. While BitMine has not verified the latest $44 million purchase, its past activities and stated goals make the acquisition consistent with its strategy.

Tom Lee Maintains Optimism for Ethereum’s Future Value

Tom Lee has shared a bullish forecast for Ethereum despite its recent price decline. In a podcast interview, Lee predicted that Ethereum will rebound from a near-term low of $2,500 and trade between $7,000 and $9,000 by the end of January 2026.

Lee also expressed confidence in the broader cryptocurrency market. Speaking to CNBC, he said the Federal Reserve is likely to shift to a more dovish stance before year-end. This shift, according to Lee, may relieve some pressure on markets and support crypto valuations.

Current Market Prices and Outlook

Ethereum is currently trading at $3,018, showing a 0.69% drop in the last 24 hours, based on The Block’s price data. Bitcoin, meanwhile, is trading at $91,309, up 0.13% in the same time frame.

Lee expects Bitcoin to continue gaining momentum and potentially surpass $100,000 before the end of the year. He stated that macroeconomic clarity and investor interest could push prices higher for both Bitcoin and Ethereum in the coming months.

Though market conditions have been challenging, BitMine’s ongoing accumulation strategy and Lee’s forward-looking statements suggest continued activity from the firm in the Ethereum market.

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