Haciyev Reşit 
BitMine (BitMNR) continues its purchases despite the recent decline in Ethereum’s price. In its latest move today, the company acquired an additional 27,256 ETH, worth approximately $104.24 million. This move demonstrates BitMine’s commitment to its long-term investment strategy and its view of market downturns as buying opportunities.
BitMine Strengthens Its 2.65 Million ETH Portfolio
BitMine currently holds 2.65 million ETH in its portfolio. These assets were acquired at an average purchase price of $4,200, meaning that at the current price level of around $3,300, the company faces an unrealized loss of approximately $1.95 billion.
With the latest purchase, BitMine has reaffirmed its long-term confidence in Ethereum by viewing the market dip as an “accumulation opportunity” and increasing its holdings. Analysts describe this move as an act of “institutional courage,” emphasizing the company’s strong belief in the Ethereum ecosystem.
According to blockchain data, BitMine made its purchases through on-chain transactions rather than centralized exchanges, indicating that the company continues to adopt a direct self-custody approach.
Tom Lee: “This Dip Is a Healthy Shakeout for the Market”
Tom Lee, founder and senior analyst at Fundstrat Global Advisors, commented on the recent market downturn. According to Lee, the sell-off was a “healthy correction” the market had long needed:
“Today’s drop was a good shakeout that cleared out overleveraged positions. Such corrections set the stage for the next bullish cycle to resume. It’s likely that markets will begin to recover within the next week.”
Lee also noted that institutional investors have begun to view these kinds of pullbacks as buying opportunities, and that strategic moves from major players like BitMine reinforce this trend.
Ethereum’s Fundamentals Remain Strong
Despite short-term price fluctuations, Ethereum continues to show strong fundamentals across DeFi, NFTs, and enterprise blockchain solutions. Recent data indicates that the number of active addresses on the network has increased by 12%, and the total amount of staked ETH has surpassed 33 million tokens.
These metrics suggest that investor confidence remains steady in the medium term. BitMine’s new ETH purchase could further boost on-chain activity and act as a positive signal for other institutional investors.
Analyst Commentary: “Institutional Confidence Is Rebuilding”
Crypto market analyst Lydia Chen highlighted the psychological impact of BitMine’s move:
“As one of the largest institutional holders of ETH, BitMine’s purchase strengthens investor confidence. Such actions can help signal potential market bottoms.”
Chen also noted that following Tom Lee’s remarks, the market could experience a short-term recovery wave.
BitMine’s new purchase of 27,256 ETH underscores that institutional investors continue to strategically expand their positions during market downturns. The company’s move not only reaffirms long-term confidence in Ethereum but, coupled with Lee’s optimistic outlook, could help lift overall market sentiment. If the market recovers as expected, BitMine’s latest acquisition may not only offset its losses but also position its portfolio for significant future gains.
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