As Ethereum falls below $2800, BitMine adds an additional 30,000 ETH, holding over 3.3% of the supply

The world’s largest Ethereum (ETH) reserve company, BitMine, has added another 30,000 ETH this morning, holding over 3.3% of the supply, continuing to push forward with its 5% acquisition plan.
(Background recap: BitMine spends another $120 million to buy 38,000 ETH! ETH holds steady above $3,100 amid consolidation)
(Additional background: BitMine invests another $110 million to acquire 33,000 ETH! Tom Lee calls out: ETH has already bottomed out)

The cryptocurrency market briefly surged last night but then collectively experienced a rollercoaster decline. This morning, Ethereum dropped to a low of $2,775, the lowest in over two weeks, with a slight rebound before press time.

On-chain monitoring platform Arkham data shows that the world’s largest Ethereum (ETH) reserve company, BitMine (BMNR), on the early morning of the 19th, withdrew about 30,075 ETH (market value $87.73 million) from FalconX via two new addresses, consistent with previous purchase patterns.

Arkham estimates that BitMine may have purchased at least $229.31 million worth of ETH so far this week.

TOM LEE IS STILL BUYING: $229M THIS WEEK

Two new wallets just withdrew $88.73M of $ETH from FalconX. This acquisition matches prior BitMine purchase patterns.

It appears that BitMine has bought at least $229.31M of $ETH so far this week. pic.twitter.com/NQoqtzGY3I

— Arkham (@arkham) December 18, 2025

ETH holdings surpass 4 million

With today’s purchase, BitMine’s ETH holdings officially exceed 4 million, accounting for over 3.3% of the total Ethereum supply, moving closer to the company’s target of capturing 5% of ETH circulation.

5% Gold Rush and Staking Blueprint

The core of BitMine Chairman and Fundstrat founder Tom Lee’s “5% Gold Rush” proposed last year is to proactively prepare for the launch of the “U.S. Maker Validator Network (MAVAN)” in 2026. The company estimates that if it ultimately holds 5% of the entire network’s ETH and participates fully in staking, the annualized yield could contribute $400 million in cash flow. Even though current accounting shows unrealized losses of billions of dollars, management still chooses to position ETH as a long-term income-generating asset rather than a short-term speculative target.

Market analysis generally believes that BitMine’s scale and professional custody channels will further open the door for institutional capital to enter ETH, especially under the expected energy- and blockchain-friendly policy environment of the Trump administration. As BMNR expands its holdings, the “equity income” narrative for ETH is increasingly taking shape, giving it a position comparable to Bitcoin in both the crypto space and traditional capital markets.

In the short term, large-scale buying may intensify price volatility; but from a medium- to long-term perspective, BitMine has invested real capital to build trust in the “staking economy.” When MAVAN launches in 2026, holding over 3% and generating stable income streams, it may be the true test of whether Ethereum can join the mainstream asset portfolio.