BitMine Immersion Applied sciences meaningfully elevated its Ethereum holdings on Thursday, buying 104,336 ETH, price about $417m, in what seems to be one other push to bolster its crypto reserves.
In response to Lookonchain knowledge drawn from Arkham, the ETH landed in three new addresses through seven transactions hailing from two wallets tied to Kraken and BitGo. BitMine didn’t publicly confirmed the transfer.
With the newest addition, the agency now holds roughly 3.03m ETH, valued at about $12.2b. That rising place helps its mission to amass 5% of Ethereum’s whole provide whereas reinforcing ETH’s function in capital markets.
It appears to be like like Bitmine(@BitMNR) simply purchased one other 104,336 $ETH($417M).
Over the previous 7 hours, 3 new wallets acquired 104,336 $ETH($417M) from #Kraken and #BitGo.
Regardless of the crypto market crash, Tom Lee nonetheless predicts $ETH will hit $10K by year-end.https://t.co/KewyZ4cAeP… pic.twitter.com/Vn5b9ijP2Z— Lookonchain (@lookonchain) October 16, 2025
Tom Lee’s Bullish Ethereum Goal Sparks New Optimism In Market Circles
BitMine’s chairman Tom Lee, a longtime crypto bull, stays vocal about his worth expectations.
He mentioned on a latest podcast that he sees ETH hitting $10,000 to $12,000 by year-end, describing the forthcoming rally as true worth discovery relatively than only a speculative spike.
BitMine’s latest accumulation comes on the heels of an earlier report buy. Throughout a significant crypto market dip, the corporate spent over $827m buying ETH, a timing that captured demand from panic sellers amid a weekend that noticed $19b in leveraged positions liquidated.
$200–$250k BTC and $10–$12k ETH by year-end?
Tom Lee ( @fundstrat ) and Arthur Hayes ( @CryptoHayes ) share their worth predictions, and why they suppose ETH might do a 2.5x in simply 2 months.
2 Legends. Identical ballpark. Are we prepared for these ranges by Dec 31?pic.twitter.com/DaMuzO2LdE
— Bankless (@BanklessHQ) October 14, 2025
As Markets Await Price Cuts, BitMine Deepens Its Ethereum Publicity
Lee and different market watchers level to potential Federal Reserve charge cuts, rising institutional adoption and clearer regulation as catalysts that might stoke additional crypto positive aspects.
Ethereum itself is feeling the strain of those dynamics. The asset final traded down 2.1% at $4,023. Nonetheless, it has gained almost 55% over the previous yr, indicating each volatility and underlying demand.
BitMine’s aggressive shopping for technique mirrors rising company curiosity in digital asset treasuries. As extra companies undertake ETH accumulation to diversify and hedge, the influence on provide dynamics and market psychology could possibly be substantial.
BitMine’s strikes are already serving as a sign available in the market, a reminder that enormous combination demand can shift narratives as a lot as worth charts.
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