BitMine CEO Calls Ethereum ’The Ultimate Steal’ as Bit Digital Plows $100M Into Crypto Future

Ethereum isn't just surviving—it's primed to be the bargain of the decade, according to BitMine's top exec. Meanwhile, Bit Digital doubles down with a nine-figure crypto commitment.

The 'Fire Sale' Narrative

While Wall Street hedgies chase shiny new tokens, BitMine's CEO spots blood in Ethereum's water—and it smells like opportunity. 'This isn't a dip, it's a discount,' he declares, eyeing ETH's sub-$3K levels like a Black Friday deal.

Big Money Moves

Not to be outdone, Bit Digital confirms a $100M war chest for crypto plays. No specifics yet—just the kind of vague corporate speak that makes traders froth. Will they YOLO into ETH? Diversify? The market waits with bated breath (and leveraged positions).

As institutions play chess with retail's money, one thing's clear: the smart money's betting on crypto's second act—even if their investors don't know it yet.

In a bold declaration that has sent ripples through the cryptocurrency market, BitMine's CEO, Thomas Lee, has characterized Ethereum (ETH) as a "discount to the future," signaling a strong bullish stance on the digital asset. This statement comes amid Bit Digital's announcement of a substantial $100 million investment aimed at bolstering its Ethereum holdings.

Ethereum: A 'Discount to the Future'

Thomas Lee, renowned for his insightful market analyses, emphasized Ethereum's potential during a recent press conference. "Ethereum's programmable nature and its expanding ecosystem position it as a cornerstone of the future financial system," Lee stated. "At its current valuation, ETH represents a discount to the future."

As of September 30, 2025, Ethereum is trading at $4,165.76, reflecting a 1.57% increase from the previous close. The cryptocurrency has experienced significant volatility over the past year, with intraday highs reaching $4,233.58 and lows dipping to $4,088.72.

Bit Digital's $100 Million Ethereum Investment

In alignment with Lee's optimistic outlook, Bit Digital, Inc. (NASDAQ: BTBT) has unveiled plans to raise $100 million through convertible senior notes due 2030. The primary objective of this capital raise is to acquire additional Ethereum, underscoring the company's strategic pivot towards diversifying its digital asset portfolio.

Sam Tabar, CEO of Bit Digital, elaborated on the initiative:

"We believe Ethereum has the ability to rewrite the entire financial system. This investment reflects our confidence in Ethereum's long-term value proposition and our commitment to being at the forefront of digital asset innovation."

The convertible notes will mature on October 1, 2030, unless converted, redeemed, or repurchased earlier. Holders have the option to convert their notes into cash, ordinary shares, or a combination thereof, at Bit Digital's discretion. The interest rate and initial conversion rate will be determined at the time of pricing.

Market Reactions and Strategic Implications

The market has responded favorably to these developments. BitMine's stock surged nearly 15% following the announcement of Peter Thiel's 9.1% stake in the company, making him the largest shareholder. This investment is seen as a strong endorsement of BitMine's strategic direction and its focus on Ethereum.

Financial analysts are closely monitoring these moves. Jane Mitchell, a senior analyst at CryptoInsights, commented:

"BitMine's and Bit Digital's aggressive positioning in Ethereum could set a precedent for other institutional investors. Their actions suggest a growing recognition of Ethereum's potential beyond its current applications."

Bit Digital's strategic shift is further evidenced by its recent treasury transition to Ethereum. The company has accumulated approximately 100,603 ETH following capital-raising activities, including a public offering that generated around $172 million in gross proceeds. This MOVE positions Bit Digital as one of the largest corporate holders of Ethereum among publicly traded companies.

The Road Ahead

As Ethereum continues to evolve, with developments such as the transition to a proof-of-stake consensus mechanism and the expansion of decentralized finance (DeFi) applications, institutional interest is expected to grow. BitMine's and Bit Digital's recent actions may serve as a catalyst for other companies to explore similar investments in Ethereum.

Investors and market participants will be watching closely to see how these strategic moves unfold and what impact they will have on the broader cryptocurrency landscape.

• ethereum
• bitmine