Bitmine Buys $64.7M ETH After Fundstrat’s 54x Ethereum Forecast
Bitmine Immersion Technologies, the world’s largest Ethereum treasury firm, has purchased 14,665 ETH (~$64.7M) as Ether dipped below $4,300, boosting its holdings to 1,866,974 ETH (~$8.2B). The acquisition follows a bullish Ethereum price forecast from Fundstrat, which projects a 54x rally from April’s $1,400 low to around $75,000. Standard Chartered’s Geoff Kendrick has also raised the ETH price year-end target to $7,500, with a 2028 outlook of $25,000. Meanwhile, Ethereum infrastructure startup Etherealize closed a $40M funding round led by Electric Capital and Paradigm to advance institutional Ethereum adoption. ETH price rebounded to $4,480 before a minor sell-off by Asian traders, remaining in a sideways pattern, down 11% from late August highs.
Bullish
Bitmine’s substantial purchase of 14,665 ETH alongside Fundstrat’s 54x Ethereum price projection underscores growing institutional confidence and demand. Raised price targets from Standard Chartered and a $40M funding round for Etherealize further signal robust support for Ethereum adoption. Historically, large-scale treasury buys have preceded significant rallies, suggesting this accumulation could provide short-term price stability and fuel longer-term upside momentum in ETH markets.