BitMine boosts Ethereum holdings to 2.5% of total ETH supply in strategic dip-buying spree
BitMine purchased $281 million in ETH during a market dip, increasing its total holdings to 2.5% of the entire ETH supply.Summary
Tom Lee’s BitMine Immersion Technologies executed a strategic dip-buying spree, acquiring another $281 million in Ethereum (ETH) from OTC desks like FalconX and BitGo as the market sold off. This accumulation brings BitMine's total holdings to over 3.03 million ETH, representing approximately 2.5% of the total supply, valued near $12.9 billion. This move aligns with broader institutional trends, as other large investors have also been moving over 400,000 ETH off exchanges into cold storage, pushing exchange reserves to a three-year low. Tom Lee remains highly bullish on ETH, predicting a price target of $12,000 to $15,000 by the end of 2025, driven by Ethereum's utility in tokenization, DeFi, and AI infrastructure, suggesting that current accumulation is positioning for the network's next growth phase.
(Source：CryptoSlate)