Ethereum treasury firm BitMine adds $150 million in ETH as DAT buying dries up
The Block
Ethereum treasury firm BitMine acquired $150 million in ETH while other digital asset treasuries significantly reduced their ETH purchases.Summary
BitMine, the Ethereum treasury firm led by Tom Lee, reportedly added $150 million worth of ETH to its holdings on Wednesday, acquiring significant amounts through BitGo and Kraken. This continuous buying occurred even as other digital asset treasuries (DATs) have drastically cut back on ETH accumulation, with November purchases dropping 81% from the August peak. BitMine maintains its goal of accumulating 5% of the total circulating Ethereum supply, currently holding over 3%. Lee remains bullish on Ethereum's price, citing the recent Fusaka upgrade and the Federal Reserve ending quantitative tightening as positive catalysts, predicting ETH could reach $7,000 to $9,000 by January 2026.
(Source：The Block)