In a bold move capitalizing on falling Ether (ETH) prices, Bitmine Immersion Technologies announced the acquisition of 71,672 new ETH to bolster its portfolio. Company CEO Tom Lee noted that last week’s sharp dip below $2,200 for ETH presented an attractive buying opportunity for Bitmine’s ongoing expansion strategy.
Bitmine targets bigger Ether share
Over the past week, Ether’s price fluctuated between $2,081 and $2,341, settling at $2,128 by Tuesday and reflecting an 8.7 percent loss for the period, according to live CryptoAppsy data. The volatile state of the market appears to be a catalyst for Bitmine’s aggressive ETH accumulation.
In a company announcement, Tom Lee shared, “Last week, we added 71,672 ETH to our portfolio. We’re continuing to invest in ETH’s short-term decline. Bitmine could reach 5 percent of total market supply by 2026.”
Lee explained that recent ETH price drops were viewed as opportunities and that Bitmine is aiming to achieve its 5 percent market share goal in the coming months.
Bitmine has distinguished itself as one of the largest Ether-focused treasury companies globally. Consistent with past practices, the firm continues to accumulate ETH during market downturns, a strategy reminiscent of Michael Saylor’s approach with Bitcoin and his company’s long-term accumulation.
Bitmine’s total ETH holdings now exceed 5.2 million, and the company has set its sights on controlling 5 percent of Ether’s circulating supply—around 6 million of the roughly 120.7 million ETH in existence.
Market moves and whale activity
Besides Bitmine’s strategic acquisition, blockchain analytics platform Lookonchain reported activity from an “OG whale”—a longstanding major market player—who has started rebuilding an ETH position after liquidating last year.
This investor was reported to have purchased 1,951 ETH at a price of $2,182 over the weekend. Lookonchain analysts expect that this whale may continue accumulating ETH in coming weeks.
Analyst forecasts and ETH price outlook
ETH’s price hit an all-time high of $4,946 in August 2025, but has since fallen by about 57 percent. Despite the decline, analysts are forecasting the possibility of a new rally for Ether by the end of this year.
Citigroup’s March analysis predicted ETH could rise to $3,175 over the next twelve months, and in a more optimistic scenario—driven by demand for stablecoins and tokenization—the price could soar to $4,488.
According to prediction market data compiled by CoinGecko, ETH faces a 48 percent chance of falling to $1,500 by year-end, while the odds of surpassing $3,500 stand at 25 percent.
Additionally, international investment firm Standard Chartered projected in its digital assets report that Ether could reach $7,500 by the end of the year. Head of research Geoffrey Kendrick attributed this outlook to rapid adoption of blockchain and on-chain products.
