Institutional conviction around Ethereum is strengthening as BitMine continues to aggressively build its Ethereum treasury. According to a new announcement, the digital mining and asset-management firm has purchased another $417 million worth of ETH, raising BitMine Ethereum stake to over 3.03 million ETH, equal to more than 2.5% of all ETH in circulation.
The latest accumulation move cements BitMine’s status as the world’s largest public corporate ETH holder and highlights its ongoing “buy the dip” strategy. As the market fluctuates near the $4,000 support level, the accumulation spree reinforces the growing influence of institutional investors on crypto market liquidity and sentiment.
BitMine’s $417 Million Ethereum Purchase Caps One Week of Massive Buying
Blockchain analysis firm Lookonchain revealed that the BitMine’s wallets received 104,336 ETH in a seven-hour period, spreading the freshly-minted ETH across three new addresses through transfers from Kraken and BitGo. This transaction, combined with prior purchases, raises the BitMine Ethereum holding to over 300,000 ETH in just one week, one of the largest institutional accumulation phases seen since early 2022.
Tom Lee, chairman and founder of the digital mining firm, called out the move as an extension of broader Bitmine Ethereum accumulation strategy. “We are acquiring assets at a substantial discount to the future,” he said, referencing the company’s philosophy of contrarian buying during market weakness.
Lee’s comments now appear to be fully reflected in BitMine Ethereum treasury, which has more than doubled in size since mid-2024. The firm has long expressed the goal of eventually amassing 5% of all ETH in existence, a point at which it could materially influence staking yields, liquidity flows, and governance dynamics.
Ethereum’s Utility as a Strategic Institutional Reserve Asset
BitMine Ethereum accumulation moves are part of a broader trend of Ethereum adoption as a reserve-grade digital asset for corporations and institutions. Against the recent crypto market crash, Bitcoin will always have a first mover advantage as a form of “digital gold,” Ethereum’s role as a platform for tokenization, decentralized finance (DeFi), and smart contracts has made it an attractive productive asset for generating on-chain yield through staking.
Tom Lee has also made clear that he believes the Bitmine Ethereum treasury will be a strategic part of the firm’s longer-term positioning in the “financial internet.” In an interview with Bloomberg, Lee noted that the rise of corporate blockchains, tokenized bonds and real-world assets, and tokenized securities are all reinforcing demand for a censorship-resistant, neutral public base layer, a role that Ethereum is uniquely suited for.
According to Lee, “Ethereum’s neutrality, decentralized architecture, and global developer ecosystem make it a politically agnostic infrastructure layer that governments and corporations can rely on for tokenized finance.”
Tom Lee Doubles Down on $10K ETH Forecast
Despite the recent pullback, Tom Lee remains bullish on Ethereum, reiterating his ETH price target of $10,000-$12,000 per token in an interview with the Bankless podcast. Lee outlined three main drivers behind his long-term bull case:
- Corporate and sovereign interest: Multiple central banks and Fortune 500 companies are currently testing tokenization projects on Ethereum, confirming its network effects as the de facto public settlement layer.
- Regulatory clarity in the U.S: Clear staking and spot ETH ETF guidelines have made it easier for institutional investors to gain access to and accumulate Ethereum and its products.
- Tokenized finance dynamics: As more assets are tokenized and brought on-chain, demand for ETH to power the settlement layer will also increase.
In order to reach Lee’s $10,000 price target, Ethereum would need to rally over 150% from current levels of approximately $4,022. While a tall order, history has shown that crypto markets are capable of such gains during new phases of financial adoption. Lee also suggests that the next bull leg is likely to come with improving macro trends, a steady stream of ETF inflows, and accelerating adoption of tokenization by major financial institutions.
Ethereum Price Prediction: Pullback or Consolidation?
At the time of writing, ETH trades 10% lower from its all-time high above $4,600 in early October. The broader crypto market has also entered a cooling phase with total market capitalization falling to $3.78 trillion from last week’s high of $4.2 trillion. BTC is currently priced at $112,000, down 1.23% on the day.
However, there are strong counter-signals in the market from the ongoing institutional buildup, which is likely to lead to ETH price floor support over the longer term. Analysts say that corporate accumulation during price weakness is a strong signal that can foreshadow the base-building phase prior to the next bull market cycle. BitMine Ethereum aggressive purchasing is therefore likely to serve as both a confidence signal and liquidity stabilizer for the market.
The Strategic Implications of Growing BitMine Ethereum Treasury
Expanding BitMine Ethereum reserves have several strategic implications for the broader Ethereum ecosystem:
- Market Liquidity: With a holding of over 3 million ETH, BitMine now has a material influence over staking and liquidity pool dynamics, including yields and validator participation.
- Institutional benchmarking: Corporates from other sectors may take cues from BitMine Ethereum treasury management and diversification into Ethereum and other digital assets.
- On-chain stability: The company’s long-term holding strategy may reduce supply pressure and support ETH’s deflationary properties post-Merge.
Moreover, the firm’s push toward 5% of all ETH stirs concerns over governance concentration but BitMine has stated that it would be used to support, not control, the network’s integrity.
Ethereum’s Institutional Adoption Inflection Point
While 2025 has certainly had its fair share of volatility, it is also shaping up to be the year that Ethereum firmly crosses the threshold into the institutional space. This includes not only new ETF approvals, but multiple major banks also running tokenization pilots for issuance and custody of digital assets on Ethereum.
For those invested in the on-chain revolution, and following where institutional investors are putting their money, BitMine Ethereum treasury expansion is more than just news. It is a signpost signaling a larger trend of large-scale financial institutions now beginning to view Ethereum as a productive, yield-bearing reserve asset underpinning the future of decentralized finance.
For now, the market will continue to be in limbo until Ethereum’s next big breakout price point. But the message from BitMine has been loud and clear: Accumulate now, have conviction later.
