TLDR
- Bitmine now holds 2.96 million ETH, nearly 2.5% of total Ethereum supply.
- Bitmine’s $480 million acquisition follows a 15.6% Ethereum market drop.
- Bitmine aims to own 5% of Ethereum’s supply, equating to 6 million ETH.
- Founders Fund and ARK Invest back Bitmine’s aggressive Ethereum strategy.
Bitmine Immersion Technologies, led by Tom Lee, has made headlines with a recent $480 million purchase of Ethereum (ETH) during a market crash. This transaction has increased its Ethereum holdings to 2.96 million ETH, solidifying its position as the owner of the world’s largest ETH treasury. The firm continues to demonstrate confidence in Ethereum’s future, buying the dip amid the 15.6% crash triggered by a geopolitical event.
Ethereum Acquisition Amid Market Volatility
On October 12, 2025, Bitmine confirmed it had acquired 128,718 ETH, worth $480 million, during a sharp market decline. The drop was caused by a significant geopolitical event: U.S. President Donald Trump announced new tariffs on Chinese software and rare earth minerals, leading to a broader sell-off in global markets. As a result, Ethereum’s price dropped by 15.62%, landing at $3,792.31.
Bitmine tracked this downturn as an opportunity to expand its ETH treasury. Blockchain data provided by platforms such as @lookonchain and @rovercrc confirmed the movement of funds from major wallets such as FalconX and Kraken to Bitmine’s accounts. The purchase also saw individual transactions of up to 24.49 ETH made to Bitmine’s wallets, averaging $3,728 per ETH.
Bitmine’s Expanding Ethereum Holdings
Before this latest acquisition, Bitmine already held 2.83 million ETH, which was valued at $13.4 billion as of October 6, 2025. Following the new purchase, the company now holds approximately 2.96 million ETH, which represents nearly 2.5% of Ethereum’s total circulating supply. With its continued buying spree, Bitmine aims to own around 5% of Ethereum’s total supply, equivalent to approximately 6 million ETH.
The company’s strategic approach to acquiring Ethereum has positioned it as the world’s largest ETH holder, surpassing other major institutional players in the space. Bitmine’s recent acquisition follows two other significant buys earlier in the same week: 179,251 ETH for $820 million and 27,256 ETH for $104 million.
Institutional Confidence and Financial Outlook
Bitmine has not only focused on acquisitions but also on establishing its staking operations. The firm receives annual yields of 3-5% through validator nodes and ETH liquidity protocols. Despite a $1.9 billion floating loss from Ethereum’s price drop in September, Bitmine remains committed to its long-term strategy, holding its position through market fluctuations.
The company’s financial strategy has earned the backing of institutional investors such as Founders Fund, led by Peter Thiel, and ARK Invest. Bitmine’s continued presence in the market and its aggressive accumulation strategy has kept it among the top U.S. stocks, with a daily volume of $6.4 billion.
Tom Lee’s View on Ethereum’s Recovery
Tom Lee, the CEO of Bitmine, expressed confidence in Ethereum’s recovery, despite the recent price dip. Lee described the recent market downturn as a “healthy shakeout,” anticipating that ETH could rise back to $4,500 to $5,000 by the end of 2025.
Should Ethereum’s price rebound to these levels, Bitmine’s recent acquisition could register unrealized profits of $35 to $40 million in a short period, strengthening its position in the market.
This optimism is reflected in Bitmine’s overall approach. The firm continues to buy Ethereum during volatile periods, underlining its belief in the long-term value of the cryptocurrency.
