BitMine Immersion Technologies recently expanded its investment portfolio by acquiring 14,618 ETH, equating to approximately $44 million. Information derived from Lookonchain’s Arkham data reveals this transaction was facilitated from a BitGo wallet to the address “0xbd0…E75B8” during the early hours of the day. Although a formal statement from the company is pending, this move underscores BitMine’s sustained strategy of accumulating Ethereum 
$2,326 and highlights its confidence in the long-term potential of the market.
BitMine’s Ambitious Ethereum Accumulation Plan
Just days before, BitMine declared a $200 million Ethereum purchase, thereby elevating its total Ethereum reserves to 3,629,701 ETH. This bolstered asset pool now values approximately $10.9 billion, signifying around 3% of the entire ETH supply. The company’s Chairman, Tom Lee, frequently emphasizes Ethereum’s position as a neutral blockchain in financial markets, predicting Wall Street’s future preference for this structure.
BitMine’s long-term goal is to secure 5% of the total Ethereum supply. The company’s robust acquisition activities indicate continuous interest from institutional investors in Ethereum and demonstrate the widespread adoption of decentralized finance frameworks by major institutions.
Tom Lee’s Bullish Outlook on Ethereum and Bitcoin
Despite recent downturns in the cryptocurrency market, Tom Lee maintains a bullish stance regarding Ethereum’s recovery potential. During a podcast appearance, the seasoned analyst projected that the ETH coin would establish a low at approximately $2,500 and potentially surge to a range of $7,000–$9,000 by January 2026. In a CNBC interaction, he noted that the Federal Reserve might adopt a more dovish approach by the year-end, thereby alleviating market pressure and supporting crypto assets.
Moreover, Lee envisaged Bitcoin 
$77,485 surpassing the $100,000 threshold before the conclusion of 2025. As reported by The Block, Bitcoin currently trades at $91,309, while Ethereum finds buyers at $3,018. Analysts interpret BitMine’s assertive purchasing strategy as validation of Ethereum’s long-term value on an institutional scale.
