Key Takeaways
- BitMine's Ether holdings increase by 34%.
- Total Ether holdings now stand at 3,505,723 ETH.
- Tom Lee highlights Wall Street's increasing interest in tokenized assets.
- BitMine aims to own 5% of the total Ether supply.
BitMine's Expanding Ether Portfolio
BitMine Immersion Technologies is demonstrating a robust commitment to its digital asset accumulation strategy, announcing the purchase of an additional 110,288 Ether (ETH) this week. This marks a 34% increase from the previous week, reflecting the company's confidence in Ethereum's long-term potential. The total ETH holdings now amount to 3,505,723 ETH, acquired at an average purchase price of $3,639 per token.
Tom Lee's Vision and Wall Street's Embrace of Crypto
BitMine's chairman, Tom Lee, indicated that the recent dip in Ether's price presented an attractive investment opportunity for the company. He emphasized the growing interest from Wall Street in tokenizing assets on the blockchain, creating greater transparency and unlocking new value for issuers and investors. Lee believes this fundamental story supports his view of Ethereum entering a super cycle over the next decade.
BitMine Evolving into the Largest Ether Treasury Company
Initially a cryptocurrency mining company, BitMine Immersion Technologies has transformed into the largest Ethereum treasury company, with its total ETH holdings currently valued at approximately $12.5 billion. The company's goal is to own 5% of the total Ether supply of 120,696,594 ETH, with its current holdings representing 2.9%.
Tom Lee's Ethereum Price Prediction
Tom Lee, also the co-founder of financial research firm Fundstrat, unsurprisingly remains extremely bullish on the price potential of Ether. In mid-October, he projected that the price could reach between $10,000 and $12,000 by the end of 2025.
Ethereum Price Performance and BitMine Stock Surge
At the time of writing, Ether is trading at $3,561, down 13.4% over the past two weeks and 4.7% in the last 30 days. At current levels, BitMine's substantial treasury is in the red, and the price would need to surge by 180% between now and the end of December to achieve Lee's $10,000 target.
Meanwhile, BitMine's stock (BMNR) has experienced a significant surge in 2025, increasing by over 400% year-to-date to reach $41.15 at the time of this report.
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