BitMine Makes $140 Million Ethereum Power Move: Strategic Accumulation Signals Major Confidence

BitMine just dropped a nine-figure bet on Ethereum's future.

The Big Buy

Forget dipping a toe in—this was a cannonball. The firm deployed a cool $140 million to snap up a massive chunk of Ethereum, dramatically boosting its crypto treasury. This isn't casual accumulation; it's a strategic fortress being built, asset by digital asset.

Reading the Signals

Moves of this magnitude send shockwaves. They telegraph deep conviction when others might hesitate. It's a classic play: identify foundational strength, then back it with serious capital while the traditional finance crowd is still debating whether crypto is 'real.'

The Bottom Line

When a major player commits resources at this level, it's worth attention. It cuts through market noise and bypasses speculative chatter, pointing directly to long-term value thesis. In a landscape often driven by hype, a nine-figure check is a statement that's hard to ignore—even for the most cynical of Wall Street veterans who still think blockchain is just a fancy spreadsheet.

BitMine, an Ethereum-focused treasury management company, has taken advantage of the market downturn by purchasing $140 million worth of ethereum (ETH). Under the leadership of Fundstrat co-founder Tom Lee, the company has increased its total Ethereum holdings to approximately 4 million ETH. At current prices, BitMine’s portfolio is valued at around $11.6 billion.

BitMine Maintains Consistency in ETH Purchases

According to blockchain analytics platforms EmberCN and Lookonchain, on Tuesday, BitMine transferred 48,049 ETH from a FalconX hot wallet. Despite the lack of official confirmation from the company, market observers agree that the move is attributable to BitMine. In an official statement on Monday, the company reported holding 3,967,210 ETH at an average cost of $3,074. This positions BitMine as the largest institutional Ethereum holder globally.

Throughout 2025, BitMine pursued an aggressive acquisition strategy and accelerated purchases even as prices declined in the year’s final quarter. In the first half of December alone, 240,711 ETH were acquired, bolstering their treasury reserves. BitMine management aims to control 5% of the total circulating Ethereum supply.

Tom Lee’s Optimistic Outlook: “Best Days Yet to Come”

BitMine’s Chairman, Tom Lee, emphasized in a statement on Monday that the most promising days for cryptocurrencies are still ahead. Lee noted that regulatory steps in Washington and growing interest from Wall Street are expected to enhance Ethereum’s impact on the global financial system.

The company’s recent purchase coincided with Ethereum’s price falling below $3,000, currently trading at $2,926, representing a 12% decline over the past week. However, BitMine’s stock, listed on the NYSE American under the ticker BMNR, closed Tuesday at $31.39, a 1.42% increase. The stock has risen 551% over the past six months, indicating a positive market response to BitMine’s strategic acquisitions.