BitMine’s Bombshell: Ethereum’s $60K ’Implied Value’ Sparks Frenzy as Whales Chase 5% of Total ETH Supply
Ethereum just got a radioactive price target—and institutional sharks are circling.
BitMine analysts dropped a grenade in today's crypto markets, slapping a $60,000 'implied value' on ETH while mega-investors scramble to hoard 5% of its entire supply. Forget moon missions—this is a full-blown corporate raid on the blockchain.
Behind the number: The math suggests ETH's fundamentals now rival Bitcoin's store-of-value thesis. But let's be real—when Wall Street starts treating crypto like a hostile takeover target, someone's probably overleveraging their yacht.
Why ETH’s price would surge
The company revealed that this estimate was derived after consulting multiple research firms to assess Ethereum’s “replacement value,” the theoretical cost of rebuilding or replacing the utility ETH provides.
BitMine claims this value reflects growing institutional recognition of Ethereum as a major macro asset for the coming decade.
The company further argued that the rapid expansion of stablecoins could mark a turning point for Ethereum’s adoption, likening their rise to the breakthrough moment ChatGPT created for artificial intelligence.
BitMine also cited US Commerce Secretary Scott Bessent’s projection that the stablecoin market could exceed $4 trillion, over ten times its current size, as a strong signal of Ethereum’s long-term potential.
With more than 60% of stablecoins issued on Ethereum and Wall Street increasingly exploring tokenized assets, the network is positioning itself as the backbone of future digital finance.
BitMine’s Ethereum plan
Considering this, BitMine stated that it is not just buying ETH but also building an ecosystem around the digital asset.
According to the firm, it intends to become to Ethereum what Strategy (formerly MicroStrategy) is to bitcoin by acquiring 5% of its circulating supply.
BitMine pointed out that it is well on the way to achieving that milestone as its ETH exposure reached $2.7 billion within 18 days, which is well ahead of the time it took MicroStrategy to reach that level of Bitcoin exposure.
Meanwhile, the company also framed its Ethereum treasury strategy as a FORM of infrastructure rather than merely holding a financial asset.
According to BitMine, staking ETH secures the network, generates yield, and aligns firms with Ethereum’s long-term success. Additionally, as Wall Street moves closer to on-chain finance, BitMine sees ETH not just as a speculative play but as a foundational LAYER for future institutional systems.
To achieve its goal, the firm plans to develop a US-based validator network, contribute to Ethereum governance, and invest in on-chain projects that strengthen the network.
The company’s Ethereum accumulation has already made waves in traditional markets. According to Google Finance data, BitMine’s stock (BMNR) surged from $4.26 in June to a peak of $107.48 on July 7. It now trades around $35.11. Its net asset value per share also spiked from $4 on July 8 to $23 by July 27, a sixfold jump in under three weeks.
