BitMine Adds $150M in Ether to Treasury in Fresh Accumulation Push
BitMine, the Ethereum-focused treasury agency led by Tom Lee, has added one other $150 million price of Ether to its stability sheet, in accordance to on-chain data shared Wednesday by Arkham.
Key Takeaways:
- Tom Lee–led BitMine reportedly added $150 million in ETH.
- The firm now holds over 3% of Ethereum’s provide and is brazenly focusing on a 5% stake.
- Tom Lee says ETH is coming into a “supercycle,” citing community upgrades and a possible pivot by the Federal Reserve as catalysts.
The knowledge exhibits the corporate acquired 18,345 ETH through BitGo and an extra 30,278 ETH by Kraken, pointing to one of many largest single inflows into a company Ethereum treasury this yr.
BitMine has not but issued a proper affirmation of the transfers, although the pockets actions align with its latest shopping for sample.
BitMine Builds 3% Stake in Ethereum as It Targets 5% Supply
The agency has steadily constructed its Ether place all through 2025, even throughout November’s market pullback.
In the ultimate week of final month alone, BitMine snapped up 96,798 ETH, lifting its holdings to greater than 3% of Ethereum’s circulating provide.
Management has beforehand mentioned it goals to finally management round 5% of all ETH, framing Ether not simply as a retailer of worth however as core infrastructure for monetary markets.
The aggressive technique stands out at a time when different digital asset treasuries are easing off.
Figures from Bitwise present corporations purchased about 370,000 ETH in November, an 81% drop from August’s peak of 1.97 million ETH.
Lee mentioned in a Dec. 1 disclosure that a number of near-term developments are shaping his outlook, together with Ethereum’s Fusaka improve and expectations that the Federal Reserve will carry its balance-sheet discount program to an finish.
Last month, Lee mentioned Ether may be entering the early levels of the kind of explosive development cycle that propelled Bitcoin to a 100x rally since 2017.
Lee mentioned the present Ether market resembles Bitcoin’s setup eight years in the past, a interval marked by deep volatility that finally preceded one of many strongest bull cycles in crypto historical past.
Lee famous that his agency first really helpful Bitcoin to Fundstrat purchasers in 2017 when BTC traded close to $1,000.
Since then, Bitcoin suffered a number of drawdowns of up to 75%, but nonetheless surged greater than 100-fold from that preliminary name.
“We imagine ETH is embarking on that very same Supercycle,” he wrote, arguing that Ether’s latest weak spot displays doubt, not deterioration.
BitMine Names New CEO Amid Leadership Shakeup
BitMine has also appointed a new chief executive as the corporate continues to construct one of many largest Ether treasuries amongst publicly traded corporations.
Last month, the corporate mentioned Chi Tsang will substitute Jonathan Bates as CEO, with the transition taking impact instantly.
“With its substantial Ethereum holdings and credibility with each Wall Street and the Ethereum ecosystem, BitMine is positioned to grow to be a number one monetary establishment,” he mentioned.
Alongside the management change, BitMine appointed three new unbiased board members.
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