BitMine Expands Ether Holdings, Now Controls 2.74% of Total Supply After $250M Buying Spree

Quick Breakdown 

• BitMine purchased $250M in Ether, bringing its holdings to 3.3M ETH (2.74% of supply).
• Chairman Tom Lee maintains a bold $10K ETH price target for 2025.
• BMNR stock has surged 691% in six months amid rising institutional interest.

 

BitMine ramps up Ether accumulation after market shakeout

BitMine Chairman Tom Lee has confirmed that the company aggressively accumulated Ether (ETH) following one of the most significant market deleveraging events earlier this month. According to Lee, the current ETH open interest mirrors levels seen on June 30 when the asset traded around $2,500 — a signal he views as a prime entry point.

TOM LEE JUST BOUGHT ANOTHER $250M ETH

Three new addresses just bought a total of $250M ETH from Bitgo and Kraken. These accounts match Bitmine’s prior acquisition pattern.

Will Tom Lee ever stop buying? pic.twitter.com/Q7NUyHOD2s

— Arkham (@arkham) October 20, 2025

“Given the expected Supercycle for Ethereum, this price dislocation represents an attractive risk/reward,” Lee said in a Monday statement .

Blockchain analytics firm Arkham Intelligence reported that BitMine purchased an additional $250 million worth of Ether from exchanges Bitgo and Kraken, lifting its total holdings to over 3.3 million ETH, valued at more than $13 billion. The latest acquisition moves the company more than halfway toward its ambitious goal of controlling 5% of the total Ether supply, currently standing at 2.74%.

Lee reaffirms $10,000 Ether price target

Despite the clock ticking down on 2025, Lee remains confident in his $10,000 Ether price prediction. Speaking on the Bankless podcast last Wednesday, he reiterated that Ethereum’s fundamentals and institutional adoption trends support a potential 150% surge from its current level of $3,986.

BitMine stock soars amid institutional interest

BitMine’s aggressive Ether strategy has also fueled investor enthusiasm. The company’s stock (BMNR) climbed 7.92% on Monday to $53.80, extending its six-month rally to an astonishing 691%.

“BitMine continues to attract institutional investor capital as our high liquidity is appealing,” Lee said, noting that BitMine and MicroStrategy (MSTR) now account for 88% of all global digital asset trading (DAT) volume.

BitMine dominates corporate Ether holdings

BitMine remains the world’s largest corporate holder of Ether, far ahead of SharpLink Gaming, which ranks second with 840,012 ETH, according to data from StrategicETHReserves.

Institutional Ether accumulation has intensified throughout 2025, with treasury firms collectively holding 5.74 million ETH, representing 4.75% of total supply — underscoring the growing institutional conviction in Ethereum’s long-term value.