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BitMine acquired 14,618 ETH worth about $44 million from BitGo-linked wallets
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The company recently added $200 million in ETH and now holds 3.6 million ETH
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BitMine aims to own 5% of total ETH supply long term
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Tom Lee says ETH could rebound to $7K to $9K by late January
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Lee also expects macro conditions to improve as the Fed turns dovish
BitMine Adds Another Large ETH Purchase
Arkham Intelligence data shows BitMine Immersion Technologies purchased 14,618 ETH on Thursday, continuing its pattern of steady treasury accumulation. Though the company has not officially confirmed this specific transaction, it follows a recent $200 million addition to its holdings.
BitMine now holds more than 3.6 million ETH, representing about 3 percent of total supply.
Company Targets 5 Percent of ETH Supply
BitMine leadership has repeatedly stated that Ethereum will play a central role in future financial infrastructure. Chair Tom Lee has said the firm wants to reach ownership of 5 percent of the entire ETH supply over time and views Ethereum as a neutral foundation for institutional blockchain applications.
Tom Lee Predicts Strong ETH Recovery
Despite recent market weakness, Lee said in a podcast that ETH could bottom near $2,500 before rallying toward $7,000 to $9,000 by the end of January. He has also argued that a dovish shift from the Federal Reserve could lift both ETH and Bitcoin, with BTC potentially breaking above $100,000.
