BitMine Immersion Technologies has reportedly expanded its corporate Ethereum reserves once again. According to Lookonchain’s analysis of Arkham data, the company recently added 14,618 ETH—valued at approximately $44.34 million—through a wallet linked to BitGo. Although BitMine has not officially confirmed this latest purchase, it aligns closely with the company’s ongoing strategy of aggressively building its ETH treasury.
Earlier this month, BitMine publicly disclosed a $200 million Ethereum acquisition, bringing its confirmed holdings to 3.63 million ETH. This accounts for roughly 3% of Ethereum’s total circulating supply, reinforcing BitMine’s stated ambition of accumulating 5% of all ETH and establishing itself as the largest corporate supporter of the Ethereum network.
BitMine’s Strategic Focus on Ethereum
Company chairman Tom Lee has been vocal about Ethereum’s long-term value, calling it a “truly neutral chain” and highlighting its appeal to major financial institutions. Lee has also suggested that Ethereum could play a pivotal role in future U.S. government blockchain initiatives, making it an infrastructure-level asset rather than a speculative one.
Even as crypto markets continue to face multi-week declines, BitMine has maintained its accumulation strategy. This consistent approach signals strong internal conviction in Ethereum’s resilience and long-term growth potential.
Tom Lee’s Price Outlook for Ethereum and Bitcoin
Despite market volatility, Tom Lee remains bullish on the broader crypto landscape. He anticipates Ethereum may bottom near $2,500 before entering a strong rebound phase that could push prices toward $7,000–$9,000 by January 2026.
Lee also expects a shift in Federal Reserve policy by the end of the year, suggesting that a more supportive economic environment could propel Bitcoin beyond $100,000, potentially reaching a new all-time high.
BitMine’s ongoing accumulation—coupled with Lee’s optimistic forecasts—positions the company as one of the most influential corporate players in the Ethereum ecosystem, even as the broader crypto market remains uncertain.
