Tom Lee’s BitMine Adds $112M in Ethereum, Calls Bottom at $2,500
Ethereum-focused treasury firm BitMine obtained 33,504 ETH value $112 million from institutional buying and selling desk FalconX, in accordance with on-chain intelligence agency EmberCN.
The buy extends the agency’s aggressive accumulation technique as chairman Tom Lee declared Ethereum has doubtless bottomed and projected the asset might attain $7,000 by early 2026.
The transaction pushes BitMine’s complete holdings to roughly 3.86 million ETH, representing 3.2% of Ethereum’s circulating provide, in accordance with StrategicETHReserve information.
Lee, who additionally serves as Fundstrat Global Advisors’ chief funding officer, told CNBC last month that the bottom is in regardless of ETH testing the crucial $2,870 help degree for the primary time since July.
Wall Street Veteran Spots Ethereum’s Bitcoin Moment
Lee believes Ethereum is getting into the identical explosive development cycle that propelled Bitcoin from $1,000 to over $100,000 since his agency’s preliminary 2017 suggestion.
Speaking on Farokh Radio, he famous Bitcoin endured a number of 75% drawdowns throughout that interval earlier than in the end delivering 100x returns to affected person holders.
“We consider ETH is embarking on that very same supercycle,” Lee acknowledged, arguing present weak point displays market doubt moderately than basic deterioration.
The comparability carries specific weight given his monitor file of calling main market bottoms, together with upgrading the S&P 500 at 720 in February 2009, one month earlier than the generational low at 666.
His conviction stems from Wall Street’s accelerating blockchain adoption, notably BlackRock CEO Larry Fink’s dedication to tokenizing conventional belongings on Ethereum.
Lee emphasised that monetary establishments require “a impartial and 100% uptime blockchain, and that’s Ethereum” to convey shares, bonds, and actual property onto distributed ledgers.
He famous that tokenization addresses a market “in the quadrillions,” moderately than merely changing gold’s $20 trillion addressable market, as Bitcoin does.
BitMine Doubles Down While Paper Losses Mount
The newest buy follows BitMine’s acquisition of almost $70 million in ETH over three days in early December, even because the agency sits on unrealized losses with a median value foundation of $3,008 per token.
Management claims it’s roughly 62% towards its long-term goal of controlling 5% of complete Ether provide, an formidable objective that will require accumulating roughly 2.5 million further ETH at present ranges.
This contrasts sharply with broader market habits. Bitwise information exhibits that digital asset treasury corporations bought simply 370,000 ETH in November, an 81% decline from August’s peak of 1.97 million ETH.
While rivals retreated amid volatility, BitMine accelerated shopping for, with Lee noting that his workforce bought ETH at greater than double the speed in comparison with two weeks prior.
BitMine @BitMNR, the Ethereum-focused treasury agency led by Tom Lee, has added one other $150 million value of Ether to its steadiness sheet.#BitMine #Etherhttps://t.co/VCNXTuTuJP
— Cryptonews.com (@cryptonews) December 4, 2025
Lee dismissed considerations in regards to the four-year Bitcoin cycle principle, suggesting it could not apply.
“If Bitcoin closes above $126,000 by January thirty first, then there’s no four-year cycle,” he informed Farokh Radio, including that conventional market indicators just like the ISM manufacturing index and copper costs have already damaged their historic four-year patterns.
This challenges widespread beliefs amongst unique crypto buyers who count on 2026 to convey weak point.
The firm just lately appointed Chi Tsang as chief executive, changing Jonathan Bates as a part of a management transition aimed at positioning BitMine “to change into a number one monetary establishment.”
Three new impartial board members additionally joined alongside the administration change.
Technical Setup Mirrors Pre-Rally Conditions
Ethereum’s present worth motion round $3,100 carries technical significance past easy help ranges.
The asset retested $2,870 help, the identical degree that preceded a 72% rally to all-time highs close to $4,900 in August.
Lee referenced this sample when declaring that the underside is probably going in place, although he acknowledged the asset has “sadly” been in a sustained downtrend.
Market indicators replicate excessive pessimism that traditionally precedes reversals.
Currently, the Crypto Fear & Greed Index sits close to 29, indicating that there’s nonetheless some “concern” in the market, which frequently marks accumulation zones.
Speaking with Cryptonews, Ignacio Aguirre, chief advertising and marketing officer at Bitget, initiatives ETH might climb towards $3,800 as “institutional flows resume and macro circumstances stabilize” following yesterday’s Federal Reserve rate cut.
Bitcoin traded round $90,000 at press time whereas Ethereum held above $3,200, with each belongings pulling again roughly 2% in early Asian trading hours today.
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