Key Points:
- Bitmine added 40,000 ETH valued at about $83.4M, on top of 40,000 ETH earlier in the week.
- Bitmine says its treasury exceeds $10 billion and holds Ethereum as its primary reserve.
- Tom Lee expects a V-shaped ETH recovery after major drawdowns and forecasts a new record high in 2026.
Bitmine Immersion Technologies disclosed another large Ethereum acquisition late Monday, adding 40,000 ETH to its treasury in an on-chain transaction worth about $83.4 million, according to blockchain trackers. The purchase reinforces a strategy the company has made increasingly explicit: Ethereum now sits at the center of its corporate balance sheet.
The transaction was flagged by the on-chain analytics firm Arkham Intelligence and publicly shared by LookOnChain. It follows a similar purchase announced last week, bringing Bitmine’s disclosed Ethereum inflows to roughly 80,000 ETH in a short span.
Bitmine Expands Ethereum Treasury Strategy
Bitmine has described Ethereum as its primary reserve asset, alongside holdings in equities, cash, and a smaller allocation to Bitcoin. The company said its total treasury value recently surpassed $10 billion, positioning it among a growing cohort of listed firms using digital assets as a strategic balance-sheet component rather than a speculative add-on.
Corporate accumulation of liquid crypto assets can have a measurable, if indirect, market impact. When a public company commits meaningful capital to an asset, it not only removes supply from circulation but also introduces a new layer of investor scrutiny tied to earnings expectations and balance-sheet risk. That dynamic often feeds back into both the underlying token market and the company’s own equity performance.
Corporate Accumulation and Market Implications
Still, the effect on price is rarely immediate. A reduced circulating supply can support valuations during periods of steady demand, but broader market conditions, liquidity, macroeconomic trends, and risk appetite remain the decisive factors.
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Large on-chain purchases also do not always reflect the full picture, as some accumulation can occur through off-market channels that are not publicly visible.
Bitmine’s stock reflected that mixed backdrop. Shares rose 4.79% during regular trading hours before slipping 1.35% after the close. The stock remains down roughly 23% year to date, despite being up nearly fourfold over the past 12 months. Data showed retail sentiment skewing negative, even as discussion volume stayed elevated.
Ethereum Price Action and Outlook
Ethereum price was trading at roughly $2,000 at the time of reporting, down about 1.8% over the prior 24 hours. Bitmine executive chairman Tom Lee said ETH has historically rebounded quickly after deep drawdowns, arguing that past declines of more than 50% were followed by sharp recoveries. He reiterated expectations for a V-shaped rebound, though such forecasts remain contingent on broader market stability.
Speculation on social platforms has intensified, with some traders suggesting that Bitmine could control as much as 5% of the total ETH supply by October 2025 at its current pace. The company has not confirmed any such target, and the projection remains unverified.
For now, Bitmine’s buying sends a clear signal of conviction, but not a guarantee of near-term price movement. The Ethereum price trajectory will continue to hinge on demand, liquidity conditions, and how much accumulated supply ultimately stays out of circulation.
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