Ether appears to have bottomed after a market-wide sell-off as Fundstrat’s Tom Lee called a short-term bottom while BitMine bought $21.3M more ETH, lifting its holdings to 1.72 million ETH and signalling strong corporate accumulation pressure on prices.
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BitMine bought 4,871 ETH (~$21.3M), raising corporate ETH holdings to 1.72M.
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Tom Lee and Fundstrat analysts signalled a near-term Ether bottom, citing technical risk/reward.
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Ether fell ~7% intra-session to $4,313; corporate treasuries now hold a larger share of circulating ETH.
Ether bottom confirmed? BitMine buys $21M more ETH, raising holdings to 1.72M ETH — read the market impact and next steps.
What happened when BitMine bought $21 million more Ether?
BitMine purchased 4,871 ETH (~$21.3M) during a market dip, increasing its treasury to 1.72 million ETH and reinforcing corporate accumulation trends. The buy coincided with Fundstrat’s Tom Lee calling a short-term Ether bottom and broader crypto market liquidations that pushed prices lower before a partial rebound.
Source: Udi Wertheimer
How did market commentators interpret the move?
Fundstrat managing partner Tom Lee publicly called for an Ether bottom within hours of the dip. Mark Newton of Fundstrat highlighted the risk/reward as attractive, projecting a short-term bottom near $4,300 with upside targets above $5,100 if the trend holds. These expert opinions framed the BitMine accumulation as confidence in medium-term recovery.
Why did Ether fall and how large was the decline?
Ether’s decline was driven by a broader crypto sell-off led by Bitcoin, which hit a seven-week low and triggered a roughly $200B market-cap liquidation event. Ether dropped more than 7% intra-session, bottoming at $4,313 on Coinbase (TradingView data referenced as plain text). The pullback left ETH about 11% below its all-time high at the time of reporting.
BitMine ETH holdings reach $7.5 billion — what does that mean?
BitMine Immersion Technologies purchased 4,871 ETH (~$21.3M) according to Arkham Intelligence (plain text reference). This raised BitMine’s balance to 1.72 million ETH, valued at approximately $7.5 billion at current market prices. BitMine now controls roughly 40% of the 4.3 million ETH held by corporate treasuries, per StrategyEthReserve (plain text reference).
BitMine buys the dip. Source: Arkham
How does BitMine’s NAV and balance sheet change after the buys?
BitMine disclosed that crypto and cash holdings rose by $2.2 billion to $8.8 billion, adding over 190,500 tokens in the last week. Its crypto-plus-cash net asset value per share increased to $39.84 from $22.84 in late July. NAV is calculated as total crypto and cash asset value divided by fully diluted shares, with BitMine reporting 221.5 million fully diluted shares.
What are broader ETH treasury trends among corporates?
Corporate ETH treasuries are growing, with BitMine emerging as the largest Ether holder among corporations. The market’s largest crypto treasury firm, led by Michael Saylor (plain text reference), continued to buy dips in Bitcoin, showing parallel corporate accumulation across major crypto assets. The concentration of ETH in corporate treasuries increases the potential impact of large treasury moves on market liquidity and price volatility.
BitMine increases its lead as the second-largest crypto treasury. Source: BitMine
Frequently Asked Questions
How much ETH does BitMine now hold after the latest purchase?
BitMine now holds approximately 1.72 million ETH after buying 4,871 ETH (~$21.3M) during the market dip, representing roughly 40% of corporate-held Ether totals referenced by industry trackers.
Is this accumulation a bullish signal for Ether?
Large-scale treasury accumulation by corporate entities can be bullish by reducing circulating supply available to retail traders. However, price outcomes depend on market liquidity and broader macro drivers; analysts at Fundstrat view the current setup as a favorable risk/reward for a bounce.
Key Takeaways
- Immediate reaction: BitMine bought 4,871 ETH (~$21.3M) as Ether dipped, lifting its treasury to 1.72M ETH.
- Analyst view: Fundstrat signalled a near-term Ether bottom near $4,300 with upside potential above $5,100.
- Market impact: Growing corporate ETH treasuries can amplify price moves by tightening available supply; monitor liquidity and on-chain flows.
Conclusion
The combination of BitMine’s aggressive accumulation and Fundstrat’s technical outlook suggests a potential near-term bottom for Ether, as large corporate treasuries reduce available supply and may support price stabilization. Traders should watch on-chain treasury flows and liquidity metrics for confirmation; COINOTAG will monitor updates and provide further analysis.
