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BitMine Expands Ethereum Treasury to 3.6M ETH as Lee Projects Major Price Surge
BitMine Immersion Technologies—the crypto firm led by Tom Lee—has reportedly expanded its already massive Ethereum holdings once again. According to on-chain data shared by Lookonchain via Arkham, the company acquired 14,618 ETH, worth approximately $44.34 million, on Thursday through wallet “0xbd0…E75B8” in a transfer originating from BitGo. While the movement has not yet been officially confirmed by BitMine, the timing aligns with the firm’s recent aggressive accumulation strategy.
BitMine Continues Its Ethereum Accumulation Spree
This latest addition follows BitMine’s announcement just days earlier that it had purchased $200 million worth of ETH to strengthen its treasury. As of the company’s most recent confirmed update, BitMine holds 3,629,701 ETH—roughly $10.9 billion in value—representing around 3% of Ethereum’s total supply.
The company has openly stated its long-term goal: securing 5% of the total ETH supply as part of its commitment to supporting Ethereum’s expanding role in financial market infrastructure. BitMine Chair Tom Lee has repeatedly voiced confidence in Ethereum, noting that both Wall Street and even the White House will ultimately favor ETH due to its nature as a “truly neutral chain.”
Tom Lee Predicts ETH to Reach $7,000–$9,000
Despite a broader market downturn affecting bitcoin, ether, and other major cryptocurrencies, Lee remains optimistic. In a recent podcast interview, he asserted that ETH may bottom near $2,500 before rallying toward $7,000 to $9,000 by January 2026.
In a separate CNBC appearance, he also predicted a shift in macroeconomic conditions, expecting the Federal Reserve to adopt a more dovish stance by year-end. This, he believes, could relieve market pressure and provide clarity for traders. Lee further suggested that bitcoin could surge above $100,000—possibly reaching a new all-time high.
Market Snapshot
According to The Block’s data, bitcoin is trading at $91,309 (up 0.13%), while ether is down 0.69% at $3,018 as market volatility continues to shape trading behavior.
