BitMine Accumulates $137 Million in Ethereum as Institutional Demand Rebounds in 2025

• Why Is BitMine Betting Big on Ethereum?
• How Does BitMine’s Portfolio Performance Stack Up?
• Tom Lee’s Bullish Case for Ethereum and Bitcoin
• What’s Driving Institutional Demand for ETH?
• FAQs: BitMine’s Ethereum Strategy

In a striking display of institutional confidence, cryptocurrency investment firm BitMine—founded by Wall Street strategist Tom Lee—has acquired 40,718 ETH (worth ~$137 million) amid a recovering market. This move signals renewed institutional interest in Ethereum, with BitMine expanding its digital asset portfolio strategically. Below, we unpack the on-chain data, analyze BitMine’s growing ETH reserves, and explore Tom Lee’s bullish outlook for crypto’s year-end rally.

Why Is BitMine Betting Big on Ethereum?

BitMine’s latest ethereum acquisitions—totaling 40,718 ETH—were flagged by Arkham Intelligence’s on-chain data. The firm received over 19,000 ETH ($69.89 million) from Coinbase Prime and FalconX in just 24 hours, followed by a 6,000 ETH ($29.28 million) OTC transfer from Galaxy Digital. These inflows pushed BitMine’s total ETH holdings to ~$137 million, cementing its position as a major institutional player. Notably, FalconX and Galaxy Digital processed the bulk of these transactions, highlighting BitMine’s reliance on top-tier crypto service providers.

How Does BitMine’s Portfolio Performance Stack Up?

Despite a $2.03 billion net balance drop between October 30 and November 6, 2025, BitMine’s portfolio remains 3.36% up month-over-month—a testament to crypto’s volatility. The firm’s exchange withdrawals hit $12.83 billion, led by FalconX (46% share), Kraken ($2.64 billion), and BitGo ($2.5 billion). Interestingly, BTCC (a rising crypto exchange) wasn’t among the top counterparts, though institutional flows suggest diversification is underway.

Tom Lee’s Bullish Case for Ethereum and Bitcoin

BitMine’s chairman, Tom Lee, doubled down on his year-end optimism, predicting ETH could hit $7,000 and BTC $150,000–$200,000. "The market’s consolidating, but Ethereum’s fundamentals—record stablecoin volume, app revenues—are screaming bullish," Lee told analysts. He dismissed recent $19.16 billion crypto liquidations as a "minor blip," emphasizing BitMine’s liquidity appeal to institutional investors. The firm’s trading volume, combined with MicroStrategy (MSTR), now dominates 88% of global crypto trading activity.

What’s Driving Institutional Demand for ETH?

BitMine’s aggressive accumulation aligns with a broader institutional trend. In the past week alone, the firm added 82,353 ETH (~$294 million) at an average price of $3,909, boosting its balance sheet to 3.4 million ETH (2.8% of circulating supply). Lee attributes this to Ethereum’s robust ecosystem: "Institutions see ETH as a backbone for DeFi and NFTs—it’s not just speculative anymore."

FAQs: BitMine’s Ethereum Strategy

How much ETH does BitMine currently hold?

As of November 2025, BitMine holds approximately 3.4 million ETH (~2.8% of circulating supply), including recent purchases of 40,718 ETH ($137 million).

Which exchanges facilitated BitMine’s ETH transactions?

FalconX, Galaxy Digital, and Coinbase Prime were primary counterparts, with FalconX processing $5.85 billion (46%) of BitMine’s total withdrawals.

What’s Tom Lee’s price target for Ethereum?

Lee projects ETH could reach $7,000 by end-2025, citing strong fundamentals like record on-chain activity and institutional adoption.