BitMine’s Bold Bet: Scoops Up 2.5% of Total ETH Supply in Strategic Market Maneuver
In a move that's shaking up crypto portfolios everywhere, BitMine just went all-in on Ethereum during recent market dips.
The Accumulation Strategy
While traditional investors were panicking about price fluctuations, BitMine executed a calculated buying spree that pushed their Ethereum holdings to a staggering 2.5% of the entire circulating supply. That's not just dipping toes in the water—that's diving headfirst into the deep end.
Market Impact
This level of accumulation from a single entity represents one of the largest strategic positions in Ethereum's history. The timing suggests either incredible market foresight or sheer audacity—take your pick.
As Wall Street continues to debate whether crypto is a 'real asset class,' institutions like BitMine are quietly building positions that would make traditional fund managers break out in cold sweats. Sometimes the biggest opportunities appear when everyone else is running for the exits.
Whales are back on the hunt
BitMine is not alone in its conviction. Analysts at WhaleMap and Arkham note that other large investors and institutions have been steadily accumulating Ethereum since early October, with more than 400,000 ETH flowing from exchanges into cold wallets.
Exchange reserves have fallen to a three-year low, suggesting that large players continue to hold long-term positions rather than trade short-term volatility. According to on-chain data, cumulative institutional holdings across corporate treasuries and Ethereum ETFs now exceed 12.8 million ETH, over 10% of the total supply.
Tom Lee remains one of the market’s most prominent Ethereum bulls. He recently reaffirmed his prediction that ETH could reach between $12,000 and $15,000 by the end of 2025, citing Ethereum’s expanding role in tokenization, decentralized finance, and AI-driven infrastructure.
His bullish case rests on liquidity dynamics: as rates fall and risk appetite returns, Ethereum’s utility and burn rate could push it into a genuine supply squeeze. Lee describes this phase as “real price discovery,” not speculation. In parallel, former BitMEX CEO Arthur Hayes has also doubled down, forecasting that Ethereum could reach $10,000 before the end of the year as macro headwinds ease and DeFi activity rebounds.
BitMine is strategically purchasing ETH
The timing of these buys is not lost on the market. BitMine’s October accumulation followed a sharp correction that wiped out more than $19 billion in Leveraged positions across crypto. Ethereum briefly sank below $3,800 before rebounding above $4,100. BitMine’s strategic purchases helped steady confidence during those volatile sessions. As crypto investor Ted Pillows commented:
“Bitmine bought $279,640,000 in $ETH today. Big players are accumulating Ethereum.”
Behind the numbers, there’s a deeper narrative: institutional actors appear to be positioning for Ethereum’s next growth phase. With stablecoin settlement volumes on Ethereum surpassing $5 trillion in the third quarter (an all-time high), the network’s dominance as a settlement LAYER remains unchallenged.
For long-term investors like BitMine, this is less about timing the market and more about accumulating the infrastructure layer of a new financial system. In this context, each dip becomes a discount rather than a deterrent.
