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BitMine Immersion Technologies has significantly expanded its Ethereum (ETH) holdings, purchasing over 110,000 Ether last week as prices fell. The move marks a 34% increase in accumulation compared to the previous week, highlighting the company’s aggressive long-term bet on Ethereum’s role in institutional finance.
In an official update, BitMine confirmed that it acquired 110,288 ETH at an average price of $3,639 per token, bringing its total Ethereum treasury to 3,505,723 ETH — currently valued at around $12.5 billion.
BitMine’s Goal: 5% of Ethereum’s Total Supply
The company has been steadily building one of the largest Ethereum portfolios in the world. With this latest purchase, BitMine now controls roughly 2.9% of Ethereum’s total circulating supply of 120.6 million tokens.
According to BitMine’s chairman Tom Lee, this accumulation is part of a broader goal to eventually own 5% of all Ether. Lee said the recent market correction offered a strategic buying opportunity for the firm.
“The recent ETH price dip presented an attractive opportunity. Wall Street is becoming increasingly focused on tokenizing assets, which brings more transparency and new value to markets. Ethereum is at the center of that transformation,” Lee said.
Wall Street’s Growing Interest in Ethereum
Ethereum has become a focal point for institutions exploring blockchain-based financial systems. From tokenized U.S. Treasuries to real-world asset platforms, financial giants like BlackRock and J.P. Morgan have been testing tokenization solutions built on Ethereum-compatible networks.
Lee believes this institutional trend supports the case for what he calls an “Ethereum super cycle” — a long-term growth phase driven by adoption beyond decentralized finance (DeFi).
“Ethereum is not just about DeFi anymore. It’s about the entire financial infrastructure shifting toward blockchain. That’s a decade-long opportunity,” Lee added.
BitMine’s Strategic Pivot from Mining to Treasury Management
Originally founded as a cryptocurrency mining company, BitMine Immersion Technologies has gradually transitioned into a digital asset treasury firm, holding large reserves of Ethereum instead of focusing solely on mining operations.
This strategic shift mirrors a broader industry trend, where firms are diversifying into asset management and staking strategies amid regulatory uncertainty and energy concerns tied to traditional mining.
BitMine’s massive holdings make it the largest corporate Ethereum holder globally — surpassing even crypto-native investment firms. The company’s accumulation strategy mirrors MicroStrategy’s Bitcoin model, positioning ETH as a long-term treasury reserve asset.
Ethereum Price Outlook: Tom Lee’s Bold Prediction
Despite short-term weakness, Tom Lee remains bullish on Ethereum’s long-term value. In a recent interview, he predicted that ETH could reach between $10,000 and $12,000 by the end of 2025, driven by institutional adoption and tokenization growth.
However, current market conditions remain cautious. As of publication, Ethereum trades at around $3,561, down 13.4% in two weeks and 4.7% over the past month. For Lee’s forecast to materialize, ETH would need to surge by over 180% from current levels.
BitMine’s Stock Reflects Investor Confidence
BitMine’s bullish stance has been mirrored in its stock performance. The company’s shares (BMNR) have gained over 400% year-to-date, reaching $41.15 — signaling growing investor confidence in its Ethereum strategy.
Analysts note that BitMine’s aggressive accumulation could have ripple effects on the broader market. Sustained institutional buying pressure may reduce circulating supply and strengthen long-term price support for ETH.
Conclusion
BitMine’s latest Ethereum purchase underscores the growing link between traditional finance and blockchain-based assets. With the firm now holding nearly 3% of the total ETH supply and aiming for 5%, it is positioning itself as a key institutional player in the Ethereum ecosystem.
As Wall Street continues to explore tokenization and blockchain integration, BitMine’s strategy could pay off significantly in the years ahead — especially if Ethereum’s role as the backbone of decentralized finance and digital asset markets continues to expand.
