BitMine’s Ethereum purchase of 104,336 ETH (about $417M) increased its holdings to roughly 3.03 million ETH, or just over 2.5% of supply. The move strengthens BitMine’s treasury as it pursues a long-term target of controlling 5% of circulating ETH for staking and liquidity influence.
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BitMine bought 104,336 ETH for $417M in one day, raising reserves to 3.03M ETH (≈2.5% of supply)
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Tokens moved from Kraken and BitGo into three new corporate wallets over seven hours, per blockchain tracing by Lookonchain.
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BitMine aims to hold 5% of circulating ETH; current treasury valued near $12.2B, Tom Lee forecasts $10K–$12K ETH by end of 2025.
BitMine Ethereum purchase: BitMine adds $417M buying 104,336 ETH, raising reserves to 3.03M ETH — read COINOTAG’s report and outlook now.
What is BitMine’s Ethereum purchase?
BitMine Ethereum purchase refers to the company’s acquisition of 104,336 ETH for approximately $417 million during a recent market dip. Blockchain-tracing data from Lookonchain shows the tokens moved from exchange custody into three new wallets under BitMine’s control as part of a deliberate accumulation strategy.
How many ETH does BitMine now hold and what is the company’s target?
BitMine’s on-chain balances now exceed 3.03 million ETH, representing more than 2.5% of Ethereum’s circulating supply. The firm told investors it intends to grow reserves to control roughly 5% of circulating ETH, which would increase its capacity for staking, liquidity provisioning and institutional strategy execution. Over the past week the company added more than 300,000 ETH, continuing a pattern of buying during price pullbacks. Lookonchain provided transaction details and timing; Tom Lee described the buying approach as opportunistic, aiming to acquire assets “at a substantial discount to the future.”
BitMine expands its Ethereum reserves with a $417M purchase, raising holdings to 3.03M ETH and targeting 5% of total supply for long-term growth.
- BitMine boosts its Ethereum holdings to 3.03M ETH, now owning over 2.5% of total supply.
- The firm targets 5% of ETH circulation, aiming for greater staking and liquidity influence.
- Chairman Tom Lee sees ETH hitting $10K–$12K by 2025 amid rising institutional demand.
BitMine has expanded its Ethereum treasury with a $417 million purchase during the recent market downturn. The company acquired over 104,000 ETH in one day, strengthening its position as the largest public Ethereum holder. This move continues its strategy of buying heavily during price pullbacks to build long-term reserves.
BitMine Adds $417 Million in Ethereum to Corporate Reserves
BitMine purchased 104,336 ETH, valued at $417 million, as shown by blockchain data from Lookonchain. The tokens were transferred from Kraken and BitGo to three new wallets under the company’s control. The transactions took place over seven hours, reflecting another major accumulation during a period of market softness.
It looks like Bitmine (@BitMNR) just bought another 104,336 $ETH ($417M).
Over the past 7 hours, 3 new wallets received 104,336 $ETH ($417M) from #Kraken and #BitGo.
Despite the crypto market crash, Tom Lee still predicts $ETH will hit $10K by year-end. pic.twitter.com/Vn5b9ijP2Z
— Lookonchain (@lookonchain) October 16, 2025
After this purchase, BitMine’s total Ethereum holdings exceeded 3.03 million ETH, representing more than 2.5% of the asset’s total supply. The company added over 300,000 ETH within a week, continuing its approach of accumulating assets during market declines. Chairman Tom Lee said BitMine seeks to buy when assets trade “at a substantial discount to the future.”
The firm’s current Ethereum treasury is valued near $12.2 billion based on market prices. Wallet movements and Lookonchain’s public blockchain tracing indicate that BitMine remains the largest public Ethereum holder and among the largest corporate crypto treasuries overall.
Ethereum Outlook and Long-Term Strategy
BitMine’s long-term goal is to control 5% of all Ethereum in circulation, which would provide it with considerable influence over staking and liquidity infrastructure. The company’s latest accumulation places it more than halfway toward achieving that target, assuming current supply figures and continued accumulation at similar scale.
Tom Lee recently reaffirmed his optimism for Ethereum in commentary on the Bankless podcast, predicting the asset could reach between $10,000 and $12,000 by the end of 2025. He described Ethereum as a “neutral chain” appealing to both institutional allocators and tokenization use cases, citing rising institutional demand and improving regulatory clarity in the United States as key drivers.
At present, Ethereum trades around $3,981, down over 2% on the day and about 10% below early October highs. Despite short-term weakness, institutional buying and corporate accumulation continue to lend support to the market. Analysts note that recent liquidations have reduced leverage in the system, which could create a more stable environment for long-term growth. Sources referenced for market data include Lookonchain and the Bankless podcast; these are cited as plain-text sources for transparency.
Frequently Asked Questions
How much ETH did BitMine buy in its most recent allocation?
BitMine purchased 104,336 ETH in a single-day allocation worth roughly $417 million, according to Lookonchain blockchain tracing. The tokens were transferred from exchange custody (Kraken and BitGo) into corporate-controlled wallets over a seven-hour window.
Why did BitMine buy ETH during a market downturn?
BitMine follows a stated strategy of buying during price pullbacks to build long-term reserves. Chairman Tom Lee said the company looks for opportunities when assets trade “at a substantial discount to the future,” aiming to expand staking and liquidity capacity as institutional adoption grows.
Key Takeaways
- Significant accumulation: BitMine acquired 104,336 ETH (~$417M) in one day, raising holdings to ~3.03M ETH.
- Strategic target: The firm aims to control 5% of circulating ETH to enhance staking and liquidity influence.
- Market context: Lookonchain provided transaction data; Tom Lee projects strong long-term ETH upside, citing institutional demand and regulatory clarity.
Conclusion
BitMine’s $417 million purchase of 104,336 ETH reinforces a clear accumulation strategy focused on long-term control of Ethereum supply and staking capacity. Blockchain tracing by Lookonchain documents the transfers from exchange custody into new corporate wallets, and company commentary — including remarks by Chairman Tom Lee on the Bankless podcast — frames the move as opportunistic buying during market weakness. COINOTAG will continue to monitor on-chain developments and corporate treasury disclosures as BitMine progresses toward its 5% supply objective. Published: October 16, 2025 | Updated: October 16, 2025 | Author: COINOTAG
