BitMine Boosts Ethereum Holdings to 3.31M ETH with $434M Buys

Published: 2025-10-29 09:30:08 |

Mining firm BitMine has continued its aggressive Ethereum accumulation, adding 27,316 ETH (≈$113 M) on top of a prior 77,055 ETH ($321 M) purchase. Total Ethereum holdings now stand at about 3.31 million ETH (≈$13.3 billion), forming part of a $14.2 billion crypto treasury that includes 192 BTC, an $88 million stake in Eightco Holdings and $305 million in cash. Chairman Tom Lee attributes the buying strategy to improved macro conditions—calmer U.S.–China trade talks and stronger equity markets—and bullish technical indicators. BitMine controls roughly 2.8% of Ethereum’s circulating supply and aims to reach a 5% stake. Ethereum has rebounded above the key $4,000 support after dipping near $3,931. Traders now eye the $4,250–$4,300 resistance zone amid growing institutional demand and robust on-chain momentum.

Bullish

BitMine’s sustained Ethereum purchases and target to hold 5% of supply signal strong institutional confidence, tightening available ETH and supporting price upside. The rebound above $4,000 and positive technical indicators drive short-term momentum, while improving macro conditions and robust on-chain metrics underpin a long-term bullish outlook for Ethereum.