BitMine’s ETH Reserves Top $3B as Ethereum Price Rises 6%
BitMine Immersion Technologies has added 208,137 ETH in one week, bringing its total Ethereum reserves to 833,137 ETH (over $3 billion). This makes BitMine the fourth-largest crypto reserve firm, trailing only Strategy, MARA Holdings and Twenty One Capital. This aggressive ETH accumulation drove Ethereum’s price up nearly 6% to $3,730 before stabilizing at $3,654, reflecting renewed institutional demand. Led by Fundstrat CIO Tom Lee and backed by investors like Bill Miller III, Stanley Druckenmiller and Cathie Wood, BitMine cites softer U.S. labor data and a potential Fed policy pivot as catalysts for further gains. The surge in institutional purchases and tightening Ethereum reserves has intensified competition among reserve firms such as SharpLink Gaming (438,200 ETH) and The Ether Machine. For traders, growing institutional ETH demand and supply constraints signal bullish momentum, suggesting continued price support and upside potential for Ethereum.
Bullish
BitMine’s rapid acquisition of 208,137 ETH, raising its Ethereum reserves to over 833,000 ETH, underscores strong institutional demand and supply reduction. The buying spree propelled Ethereum’s price up nearly 6%, highlighting bullish sentiment. In the short term, such aggressive ETH accumulation typically supports price levels due to tighter circulating supply and heightened trading activity. Over the long term, continued institutional confidence—bolstered by softer U.S. labor data and possible Fed easing—suggests sustained upward pressure on ETH as treasury competition intensifies and adoption deepens.