BitMine Snaps Up $250M in Ethereum, Closing In on 5% Supply Goal

BitMine has made headlines once again after its chairman, Tom Lee, confirmed a major Ethereum accumulation amid recent market volatility. Following one of the largest deleveraging events in the crypto market this year, the company capitalized on the price dip to strengthen its Ethereum holdings, signaling long-term confidence in the blockchain’s future.

BitMine acquired an additional $250 million worth of Ethereum from major crypto exchanges.

The company now holds over 3.3 million ETH, representing 2.74% of the total supply.

Chairman Tom Lee reaffirmed his $10,000 Ethereum price prediction for 2025.

BitMine’s stock surged nearly 8% following the latest Ether purchase.

Institutions continue to accumulate Ethereum, now holding over 5.7 million ETH in total.

“Open interest for ETH sits at the same levels as seen on June 30th of this year, ETH was $2,500, given the expected Supercycle for Ethereum, this price dislocation represents an attractive risk/reward,” Lee said in a statement on Monday.

According to blockchain analytics platform Arkham Intelligence, BitMine purchased an additional $250 million worth of Ether (ETH) on Monday from crypto exchanges Bitgo and Kraken. This move brings the firm closer to its ambitious goal of owning 5% of Ethereum’s total circulating supply.

The company’s current Ethereum stash now exceeds 3.3 million tokens, valued at over $13 billion, accounting for 2.74% of all ETH in existence. The expansion underscores BitMine’s growing influence in institutional crypto investment and its commitment to Ethereum as a long-term asset in the evolving decentralized finance (DeFi) ecosystem.

During a recent Bankless podcast appearance, Lee maintained his bullish stance, reiterating his forecast for Ethereum to reach $10,000 by year’s end. With ETH trading around $3,986 on Monday, achieving this target would require a rally of roughly 150% in just over two months.

BitMine stock on the rise

Following the latest Ether accumulation, BitMine’s stock (BMNR) jumped 7.92% to $53.80 on Monday, extending its six-month rally to an impressive 691%. The surge reflects investor optimism toward the company’s aggressive digital asset strategy and growing market presence.

BitMine’s stock gained over 7% on Monday night. Source: Google Finance

“BitMine continues to attract institutional investor capital as our high liquidity is appealing. The combined trading volume share of BitMine and MSTR is now 88% of all global DAT trading volume,” Lee added.

BitMine reigns as the largest Ether company

BitMine remains the largest institutional holder of Ether worldwide. The next closest publicly listed company, SharpLink Gaming, holds roughly 840,000 tokens, according to StrategicETHReserves.

Institutions have been steadily accumulating Ether throughout 2025, with total holdings across treasury companies now surpassing 5.74 million ETH, equivalent to 4.75% of the entire token supply. This trend highlights Ethereum’s growing role as a cornerstone asset for institutional crypto portfolios, alongside Bitcoin and emerging blockchain-based investments.

This article was originally published as BitMine Snaps Up $250M in Ethereum, Closing In on 5% Supply Goal on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.