#binance #hype #zec #near
21/10/25 08:17 UTC-04

BitMine Dares to Buy Ethereum at Its Local Bottom

The largest Ethereum treasury company, BitMine Immersion Technologies, led by Tom Lee, took advantage of the ETH price drop to accumulate more cryptocurrency.

On October 20, when Ethereum traded between $3,950 and $4,000, BitMine employees withdrew 63,539 ETH worth $250.81 million from Kraken and BitGo. Since those transactions, the digital asset’s price has fallen by roughly 3%, meaning the firm is likely holding a small unrealized loss.

BitMine’s Ethereum purchases were likely executed late Monday night.

The company began investing in Ethereum on July 14, 2025, and in just over three months accumulated 3.24 million ETH, valued at $12.52 billion at current prices. The firm now holds 2.68% of all ETH in circulation, and if Tom Lee’s team continues accumulating at the same pace, it is on track to reach a 5% stake by early 2026.

The fact that BitMine employees bought ETH at a local bottom doesn’t necessarily signal confidence in an imminent market reversal. They are following the philosophy of Strategy head Michael Saylor, methodically accumulating ETH regardless of market conditions, in anticipation of long-term price growth.

See also: "Gemini Launches Crypto Credit Card with Solana Cashback"

#Ethereum (ETH) #Investment #BitMine

Editor: Alyona Nabok
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