TLDR
- BitMine now holds 3.3 million ETH worth over $13 billion.
- Tom Lee expects Ether to reach $10,000 before the year ends.
- BitMine bought $250 million in ETH from Bitgo and Kraken.
- BitMine stock rose 7.92 percent after its latest Ether purchase.
Ether’s recent price drop has caught the attention of BitMine chairman Tom Lee, who believes the current levels offer strong upside potential. The company has now added $250 million worth of ETH to its treasury. Lee points to a market reset and says Ether’s current price does not reflect its growth potential, especially with institutional interest rising sharply in 2025.
BitMine Purchases $250 Million in Ether After Market Drop
BitMine, a leading crypto treasury firm, confirmed it acquired $250 million in Ether (ETH) on Monday. The purchase followed a recent market-wide deleveraging event that lowered asset prices. According to Arkham Intelligence, BitMine bought the tokens from exchanges Bitgo and Kraken.
The new purchase adds to BitMine’s growing Ether reserves, bringing its total holdings to over 3.3 million ETH. Based on Monday’s price of $3,986, the company’s ETH portfolio is now worth over $13 billion. This gives BitMine control of 2.74% of Ethereum’s total circulating supply.
BitMine’s chairman, Tom Lee, stated, “Open interest for ETH sits at the same levels as seen on June 30th of this year, ETH was $2,500. Given the expected Supercycle for Ethereum, this price dislocation represents an attractive risk/reward.”
Targeting 5% of Ether’s Total Supply
BitMine is aiming to secure 5% of Ethereum’s total supply as part of its long-term strategy. With 3.3 million tokens already in its treasury, the firm is more than halfway to reaching this goal. No other public company holds a larger Ether position.
The second-largest Ether treasury is held by SharpLink Gaming, which owns 840,012 ETH, based on data from StrategicETHReserves. Combined holdings across all known treasury companies now stand at 5.74 million ETH. That equals about 4.75% of Ethereum’s total token supply.
Institutional interest in Ethereum has grown in 2025, and firms are increasing their holdings as part of broader crypto exposure. BitMine’s aggressive accumulation places it at the center of this trend.
Ether Price at $3,986, Lee Still Targets $10,000 in 2025
On Monday, Ether was trading at $3,986, down slightly by 1.07%. Despite this, Lee has not changed his prediction for Ether to hit $10,000 by the end of the year. Speaking on the Bankless podcast last week, he repeated his bullish stance even with only two months remaining.
To meet the $10,000 target, Ether would need to gain over 150% from current levels. Lee sees the current price as out of sync with Ethereum’s market position and future potential. His view is that Ether remains undervalued after the latest selloff.
Market observers have pointed to declining open interest and reduced leverage across exchanges as signs of a reset, possibly paving the way for future price growth.
BitMine Stock Gains and Institutional Trading Volumes Rise
BitMine’s stock (BMNR) closed Monday at $53.80, up 7.92% for the day. Over the past six months, its share price has surged by 691%. The rise reflects growing investor confidence in the firm’s strategy and its Ethereum holdings.
Tom Lee noted that BitMine and MicroStrategy (MSTR) together now account for 88% of all global DAT (digital asset treasury) trading volume. He said, “BitMine continues to attract institutional investor capital as our high liquidity is appealing.”
As the largest Ether-holding company in the public market, BitMine’s moves are closely watched. Its large-scale ETH purchases and market activity signal growing institutional involvement in Ethereum as the year comes to a close.
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