Purchase of 40,000 ETH

According to data from on-chain analytics platform Arkham Intelligence, Bitmine purchased 20,000 ETH from FalconX on Monday. During the same period, on-chain tracking service Lookonchain reported that the company acquired an additional 20,000 ETH via BitGo. With these transactions, Bitmine added a total of 40,000 ETH to its treasury in a single day, clearly demonstrating its strong institutional-scale buying appetite.

Following these latest purchases, Bitmine’s total Ethereum holdings exceeded 4.3 million ETH. According to the company’s most recent official statement, this amount corresponds to a value of over $9 billion at current market prices. Bitmine also announced that it has reached 72% of its long-term goal to acquire 5% of Ethereum’s circulating supply, marking a significant milestone in its aggressive yet gradual treasury strategy.

Bitmine’s purchases come at a time when Ethereum is still trading roughly 57% below its all-time high of $4,946, reached in August 2025. Despite this, the company continues to view the current pullback not as a short-term risk, but as a strategic opportunity for long-term accumulation. CEO Tom Lee emphasized that despite price weakness, Ethereum’s network infrastructure has reached record levels of usage and activity, noting a divergence between on-chain fundamentals and price performance. According to Lee, this suggests that the market has yet to fully price in Ethereum’s long-term potential, while current levels offer attractive entry points for institutional investors.

Staking Income and Long-Term Perspective

Bitmine stated that approximately 67% of its total ETH holdings are staked, generating around $202 million in annual revenue. This highlights that the company’s treasury strategy is focused not only on price appreciation but also on Ethereum’s yield-generating structure.

Commenting on the strategy, Tom Lee said:

“The best crypto investment opportunities often emerge after sharp sell-offs. At Bitmine, we view this pullback as an attractive entry point given the strong fundamentals. From our perspective, ETH’s price does not yet fully reflect Ethereum’s high utility and its role in the future of finance.”

Lee also noted that the company’s significant unrealized losses are an expected and temporary part of its Ethereum treasury strategy during periods of market stagnation.

Assessment

Bitmine’s $84 million Ethereum purchase once again demonstrates that institutional players see market downturns as strategic opportunities rather than risks. As confidence in Ethereum’s network fundamentals and long-term role remains strong, Bitmine’s aggressive accumulation policy positions the company as one of the largest institutional ETH holders. Regardless of the direction of the next market cycle, such moves are expected to continue supporting Ethereum’s institutional adoption.

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BitMine’s Ethereum Accumulation Is Growing

With this latest purchase, BitMine’s total Ethereum holdings have reached 4.285 million ETH. According to current data, this amount corresponds to roughly 3.6% of Ethereum’s total supply. Holding such a significant ETH position makes BitMine one of the largest institutional Ethereum holders globally and also highlights the increasing concentration of institutional ownership in the market. Experts emphasize that acquisitions on this scale send a strong signal of confidence in the Ethereum ecosystem and demonstrate that institutional interest continues to grow steadily. In the long term, this could have more pronounced and lasting effects on Ethereum’s market structure, liquidity balance, and supply-demand dynamics.

BitMine’s aggressive Ethereum accumulation strategy is viewed by market analysts as a strong indicator of institutional confidence. Despite price volatility, the company’s continued accumulation shows that it considers ETH not merely as a short-term investment instrument, but as a long-term strategic asset. This approach clearly reflects BitMine’s long-term belief in the Ethereum ecosystem.

According to analysts, while such large-scale institutional purchases may have a limited impact on prices in the short term, they are critically important in the long run due to the reduction in circulating supply, tightening liquidity, and increasing institutional ownership. These factors are expected to contribute to Ethereum gradually evolving into a more institutionalized and stable market.

Large-Scale Purchases Continue

Recent statements from BitMine indicate that the company’s Ethereum accumulation strategy will continue. Ongoing large-scale purchases are seen as an important signal for those closely monitoring supply-demand dynamics and institutional investor behavior in the Ethereum market. BitMine’s latest acquisition of 41,788 ETH clearly demonstrates how strong institutional demand for Ethereum has become. Reaching 3.6% of the total supply suggests that institutional influence in the Ethereum market could become even more pronounced in the period ahead.

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Bitmine’s Ethereum Move

With its latest purchase, Bitmine has significantly increased its total Ethereum holdings. Interest in Ethereum among institutional investors is steadily rising, driven primarily by Ethereum’s smart contract infrastructure and the growth of decentralized applications within the DeFi and NFT ecosystems. Analysts suggest that Bitmine’s move could both boost market confidence and create short-term positive effects on Ethereum prices.

Recently, major institutional investors have been increasing their Ethereum purchases to diversify portfolios and gain exposure to digital assets. Bitmine’s acquisition of 13,412 Ethereum stands out as a strong example supporting this trend. Ethereum’s expanding market capitalization and broadening use cases continue to keep institutional interest alive.

Market Impact and Expectations

Following Bitmine’s purchase, short-term price movement in Ethereum may be observed. Experts state that such large institutional acquisitions positively influence not only prices but also investor psychology by strengthening overall market confidence. Institutional interest in Ethereum sends a positive signal to the market, particularly for individual investors who are sensitive to volatility.

However, for prices to rise sustainably in the long term, several factors should be closely monitored, including technological developments within the Ethereum ecosystem, growth in DeFi and NFT projects, on-chain transaction volumes, adoption rates, and broader macroeconomic influences on the crypto market. Global economic indicators, central bank monetary policies, and regulatory developments related to cryptocurrencies also play a critical role in shaping Ethereum’s price direction. Investors should consider these factors when evaluating both short-term opportunities and long-term strategies.

Assessment

Bitmine’s purchase of an additional 13,412 Ethereum once again highlights institutional investors’ confidence in Ethereum. This development further strengthens Ethereum’s role as a strategic investment asset and a potential safe haven among digital assets. Crypto investors should closely monitor institutional moves like Bitmine’s when assessing short-term opportunities and building long-term portfolio strategies.

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BitMine Purchases 41,946 More ETH: Reserves Surpass $1 Billion

According to data shared by Lookonchain, wallets linked to BitMine purchased 41,946 ETH on Thursday, worth approximately $131 million. This additional purchase has pushed the company’s total Ethereum holdings to over $1.37 billion. BitMine aims to maintain its position among the largest digital asset treasuries by continuously reinforcing its reserves.

Earlier this week, BitMine was reported to have made another $55 million ETH purchase. Shortly after, a wallet associated with the company withdrew $91 million worth of ETH from Kraken ahead of the Fusaka upgrade. These on-chain movements suggest that the company is steadily executing a large-scale accumulation strategy.

Company Led by Tom Lee Aims for 5% of Total ETH Supply

BitMine, known as an Ethereum-focused treasury firm, is led by Tom Lee of Fundstrat. The company recently disclosed that it holds over 3.7 million ETH. If its current accumulation pace continues, BitMine could reach its target of acquiring 5% of the total ETH supply.

Tom Lee argues that Ethereum’s smart contract capabilities are a transformative force in financial systems. He believes Ethereum, as a foundational technology for new financial products, has significant long-term adoption potential.

MAVAN Staking Solution Coming in 2026

BitMine’s growth plans extend beyond ETH accumulation. The company intends to launch its staking solution, MAVAN, in early 2026. This initiative is seen as a key element of its strategy to maintain leadership in global crypto treasury management.

In its latest statement, BitMine management noted:

“Ethereum is becoming one of the building blocks of the digital finance ecosystem. We are taking strategic steps to strengthen our reserves and prepare for the financial infrastructure of the future.”

Conclusion

BitMine’s series of large-scale Ethereum purchases clearly demonstrates its long-term blockchain vision. Rapid reserve growth reflects both institutional interest and confidence in the Ethereum ecosystem. With the introduction of the MAVAN staking solution, BitMine is expected to further solidify its leadership in the sector.

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BitMine Aggressively Increases Its Ether Holdings

According to Lookonchain data, BitMine Immersion Technologies purchased a total of 23,773 ETH over the past three days despite the market downturn. The purchases consisted of:

• 7,080 ETH on Monday for approximately $19.8 million
• 16,693 ETH on Saturday for approximately $50.1 million

Together, these acquisitions total roughly $70 million.

These purchases follow last week’s large transaction, in which BitMine acquired 96,798 ETH for $272.3 million. With the latest additions, BitMine’s total ETH holdings have risen to 3,726,499 ETH, worth approximately $10.48 billion.

According to strategicethreserve.xyz, BitMine is currently the largest ETH digital asset treasury (DAT) in the market. The company’s long-term goal is to hold 5% of Ether’s total supply. Currently, 62% of that target has been achieved. However, with an average acquisition cost of $3,008 per ETH, a significant portion of BitMine’s holdings is currently underwater.

Tom Lee Revises His Bitcoin Forecast

BitMine president Tom Lee has significantly revised his long-awaited Bitcoin price forecast. Earlier this year, Lee predicted that Bitcoin would reach a new all-time high of $250,000 by the end of 2025. However, due to weak market conditions heading into 2025, he rolled back his projection last week.

In a statement to CNBC, Lee said:

“I think Bitcoin could hit an all-time high by the end of January. A lot of that will depend on the recovery in equities.”

No Concrete Reason Behind the Crypto Sell-Off

Jeff Dorman, Chief Investment Officer at Arca, argued that the recent sell-off in crypto has been exaggerated. According to Dorman, there is no fundamental negative event driving the decline:

“MSTR isn’t selling, Tether isn’t bankrupt, DATs aren’t selling, Nvidia isn’t crashing, the Fed isn’t turning hawkish. All the alleged reasons for the crypto sell-off can be easily debunked.”

Dorman explained that part of the weakness is due to lack of liquidity. Major institutions such as Vanguard, State Street, BNY Mellon, JPMorgan, Morgan Stanley, and Goldman Sachs have not yet fully rolled out crypto products, limiting institutional liquidity inflows.

Conclusion

BitMine’s latest $70 million ETH purchase underscores how seriously the company is pursuing its goal of accumulating 5% of total Ether supply. Continuing to buy above average cost suggests a fully long-term strategy. Tom Lee’s updated Bitcoin forecast signals that despite short-term uncertainty, sentiment remains positive heading into Q1 2025. Although liquidity shortages and delayed institutional adoption may create near-term pressure, the aggressive actions of major players indicate that the market could strengthen over the medium to long term.

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BitMine’s Strategic Ethereum Investment

In an official statement, BitMine confirmed that the purchase was made as part of its long-term capital strategy. The company’s spokesperson emphasized their belief that Ethereum’s leading position in blockchain technology will play a key role in the digital infrastructure of the future.

BitMine Official Spokesperson:

“Ethereum is not just a cryptocurrency — it is one of the fundamental building blocks of digital finance. At BitMine, we see this purchase as a reflection of our confidence in the future of the blockchain economy.”

Based on Ethereum’s current market price, the 179,251 ETH purchase is valued at approximately $520 million. This makes it one of the largest investments in BitMine’s digital asset portfolio.

Institutional Confidence in Ethereum Returns

In recent months, financial giants such as Grayscale, BlackRock, and Fidelity have increasingly turned their attention to Ethereum ETFs and staking projects, signaling a growing interest among institutional investors. BitMine’s large-scale Ethereum purchase further underscores the accelerating pace of this trend.

Thanks to recent network upgrades and Layer-2 solutions, the Ethereum network now offers lower transaction fees, faster confirmation times, and greater scalability — all of which make it an attractive infrastructure for institutional players.
Crypto analyst Deniz Kaya commented on the development:

“BitMine’s move is a strong testament to the confidence in Ethereum’s long-term potential. As institutional investments grow, the Ethereum ecosystem will become more resilient and sustainable.”

BitMine’s Crypto Asset Strategy

BitMine has previously taken long-term positions in assets such as Bitcoin and Solana, generating significant returns during market expansion phases. The company’s current strategy focuses on diversifying mining revenues through digital asset investments.

This latest Ethereum acquisition highlights BitMine’s long-term vision toward blockchain technology. The firm also plans to invest in DeFi (decentralized finance) projects and stake-based earning models in the coming months.

BitMine’s 179,251 ETH purchase is seen as a confidence-boosting move for the crypto market, encouraging institutional capital inflows. This development could mark a key turning point for Ethereum in terms of both institutional adoption and ecosystem stability.

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BitMine’s Strategic Ethereum Investment

Tom Lee, co-founder of the company and a well-known crypto analyst, stated that this purchase is part of BitMine’s long-term strategy. Ethereum’s strong growth in areas such as Layer-2 solutions, decentralized finance (DeFi), and tokenization has driven the firm to expand its ETH holdings.

In a press release, Lee noted:

“Ethereum is not only a smart contract platform in the blockchain world but also the foundation of next-generation financial infrastructure. ETH is at the core of our long-term vision and our portfolio at BitMine.”

Impact on the Ethereum Market

BitMine’s massive purchase created significant movement in Ethereum’s market dynamics. ETH’s price gained upward momentum shortly after the transaction. Analysts emphasize that such institutional purchases reinvigorate confidence in the market and further strengthen ETH’s position against traditional assets.

Rising Institutional Interest

BitMine’s Ethereum investment reflects not only its own portfolio strategy but also the broader market trend. Institutional investors’ interest in ETH has visibly increased in recent months, especially with spot Ethereum ETF filings in the U.S. and improvements in global regulatory frameworks.

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Nearly $1 Billion in Ethereum in Just One Week

On-chain data reveals that in the past 24 hours alone, this “mystery buyer” acquired around $212 million worth of ETH. The holdings are spread across six separate wallets, with balances ranging from $128 million to $181 million each. The purchases were facilitated through Galaxy Digital, FalconX, and BitGo.

Ethereum’s Market Cap Surpasses Mastercard

The strong rally in ETH’s price pushed its market capitalization to $523 billion, surpassing payment giant Mastercard’s $519 billion valuation. Over the past seven days, ETH climbed past the $4,000 threshold, reaching $4,332 at its peak.

Public companies have also been increasing their exposure to Ethereum. In the last week alone, they added more than 304,000 ETH to their treasuries. BitMine Immersion Technologies led the way, buying over 208,000 ETH (worth more than $900 million), followed by SharpLink Gaming with a $303 million ETH purchase.

Analysts Eye the $20,000 Target

Many technical analysts are bullish, predicting that ETH could reach the $20,000 mark in the coming months. Some even suggest the price might exceed that level if current momentum continues.

However, Ethereum co-founder Vitalik Buterin has urged caution. While he supports companies holding ETH in their reserves, he warned against turning it into an “overleveraged game” that could harm the market in the long run.

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According to Phoenix Group’s announcement, the newly formed digital asset treasury consists of 514 Bitcoin and 630,000 Solana (SOL) tokens. This reserve is considered part of the company’s long-term strategic vision.

Co-founder and CEO Munaf Ali stated:

“Holding Bitcoin and other strategic digital assets isn’t just about exposure; it’s a step that aligns with our company’s vision. We believe in the long-term value these networks represent, and our treasury strategy reflects that belief.”

In the second quarter of 2025, Phoenix Group’s shares rose by over 72%, making it one of the top five most-traded and best-performing stocks on the ADX.

Institutional Investors Are Now Looking Beyond Bitcoin

Recently, more Bitcoin mining firms have started incorporating not just BTC but also altcoins into their balance sheets. This shift indicates that institutional investors are expanding their interest beyond Bitcoin, showing growing confidence in the broader digital asset market.

A notable example is BitMine Immersion Technologies. The company revealed plans to acquire up to 5% of the total Ethereum supply. As of now, BitMine holds 625,000 ETH, representing 0.52% of the total circulating supply. This acquisition is part of a $1 billion stock buyback initiative.

Phoenix Group’s Financial Report: Mining Revenue and Asset Valuation

Phoenix Group reported a revenue of $29 million for the second quarter of 2025, along with a total of 336 BTC mined. Of this, 214 Bitcoin were generated through the company’s own mining operations. However, this figure represents a 51% drop compared to the first quarter, during which Phoenix mined 689 BTC.

Despite the decline, the company’s self-mining revenue surged by 219% over two years — rising from $13 million in the first half of 2023 to over $41.7 million in the first half of 2025. The company achieved a 31% gross profit margin from self-mining and reduced energy costs by 14%.

On the downside, Phoenix reported a non-cash loss of $29 million due to revaluations in its digital asset portfolio and adjustments under revised accounting standards. Additionally, it disclosed $16 million in outstanding debt.

Looking ahead, Phoenix Group expects a “partial rebound in asset valuations” in the third quarter, driven by recent price recoveries in key holdings such as Solana.

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Corporations Are Accumulating ETH

Thanks to Ethereum’s 10 years of uninterrupted uptime and its smart contract infrastructure, it has laid the foundation for revolutionary developments like decentralized finance (DeFi) and tokenization. This has significantly increased large companies’ interest in Ether.

According to data, the five corporate entities holding the most Ether are as follows:

1. BitMine Immersion Technologies – 625,000 ETH

A publicly traded Bitcoin mining company, BitMine currently holds the most Ether. This amount accounts for 0.52% of ETH’s circulating supply. The company had previously announced plans to acquire up to 5% of ETH’s supply. Recently, it also revealed a $1 billion stock buyback program.

2. Sharplink – 438,190 ETH

Listed on Nasdaq, Sharplink defines ETH as its “primary treasury asset.” Between July 21 and last Sunday, the company acquired $290 million worth of ETH at an average price of $3,756.

3. Bit Digital – 100,603 ETH

Bit Digital, which shifted from Bitcoin to Ethereum, announced on July 7 that it had raised $172 million through a new stock issuance and converted its balance sheet to Ether.

4. BTCS Inc. – 70,028 ETH

An Ethereum node validator, BTCS recently sold $10 million in convertible notes. In 2025 alone, it has raised a total of $207 million in capital.

5. GameSquare Holdings – 12,913 ETH

Media and tech firm GameSquare stated it holds this amount as part of a broader $250 million crypto treasury strategy.

Wall Street’s Growing Interest in Ethereum

According to Bitget CEO Gracy Chen, institutional investors now view Ethereum, much like Bitcoin, as the next-generation reserve asset. Especially with the increasing vision of asset tokenization on the blockchain, Ethereum appears to have a strong market advantage.

As Chen explains:

“Ethereum is expected to capture a large share of the asset tokenization market. That’s why Ethereum is becoming the next strategic treasury asset for institutional investors.”

A new report by Standard Chartered also supports this view. The report states that since June, crypto treasury firms have acquired more than 1% of Ethereum’s circulating supply. In the same period, Bitcoin-focused firms have lagged behind.

In the long term, it is suggested that Ethereum-focused companies could hold up to 10% of the total ETH supply. This trend is fueled by opportunities such as staking and programmable returns through DeFi.

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