BitMine’s ETH Accumulation Could Tighten Supply and Help Lift Price Toward $5K, But Whale Profit-Taking May Limit Gains

• BitMine holds 2.83M ETH (~$13.2B) and 192 BTC with $456M cash

• Collective ETH treasuries and ETFs total ~5.66M ETH worth $26.45B in October

• Exchange reserves fell from >20M to 16.1M ETH since July (≈20% drop)

BitMine ETH holdings surge: BitMine increases Ethereum to $13.2B; read price outlook, supply data, and expert insight. Stay informed with COINOTAG.

What is BitMine’s ETH accumulation and why does it matter?

BitMine ETH holdings refer to the firm’s corporate treasury position in Ethereum after its latest buy-up to 2.83 million ETH. This accumulation matters because large corporate treasuries and ETFs reduce exchange supply and can amplify institutional demand signals for ETH.

How many ETH does BitMine hold now?

BitMine reports holding 2.83 million ETH, 192 BTC and $456 million in cash as of October 6, 2025. At present valuations this equates to roughly $13.2 billion in ETH and places BitMine as the second-largest corporate crypto treasury by ETH exposure.

Tom Lee, Fundstrat CIO and BitMine chairman, framed ETH as the “biggest macro trade” of the decade tied to AI and crypto narratives. He said BitMine aims for roughly 5% of total ETH supply (about 6 million ETH) as a long-term target.

BitMine’s statement notes the firm still has ~3.2 million ETH to reach its 5% supply ambition. The move complements broader institutional flows and ETF activity that have concentrated ETH into treasuries, staking vehicles and long-term custody.

Why is ETH supply tightening important?

Supply tightening increases scarcity and can reduce downside volatility during bullish demand phases. Since July, on-chain data shows exchange reserves fell from over 20 million ETH to about 16.1 million ETH, a ~20% reduction in liquid exchange inventory.

ETF flows slowed in Q4 relative to Q3, yet demand from treasuries and existing ETFs remains material. The Grayscale ETH ETF activation of staking may further lift demand if other issuers follow similar staking-enabled structures.

How could accumulation affect ETH price?

Reduced exchange supply plus large treasury bids can support higher price floors. ETH recovered ~22% from the September low (~$3.8K) and recently defended $4.5K as support, making a retest of $4.8K and a run to $5K feasible.

That said, on‑chain indicators such as OBV show resistance levels and whale profit-taking exceeded $70 million during the recent recovery. Large sell pressure from whales could cap short-term upside near $5K.

What are the consensus risks and indicators to watch?

Watch these priority indicators:

1. Exchange reserves: continued declines signal tighter supply.
2. ETF flows and staking activation: renewed inflows may sustain demand.
3. Whale balance changes: sudden sell-offs can interrupt rallies.

Sources referenced as plain text: Strategic ETH reserve, CryptoQuant, TradingView, Fundstrat. Comments attributed to Tom Lee and Hunter Horsley are included as reported statements.

Frequently Asked Questions

How much ETH does BitMine plan to hold?

BitMine stated a target of roughly 5% of ETH supply (~6 million ETH). The firm currently holds 2.83M ETH and intends to continue accumulating toward that target over time.

Will BitMine’s accumulation push ETH to $5K?

Accumulation and lower exchange reserves support a possible move to $5K, but whale profit-taking and short-term liquidity events could cap gains. Monitoring ETF flows and on‑chain metrics is essential.

Key Takeaways

• Scale: BitMine holds 2.83M ETH (~$13.2B), making ETH its primary treasury asset.
• Supply: Exchange reserves dropped to ~16.1M ETH, increasing scarcity risk.
• Outlook: ETH could test $5K if ETF and treasury demand persists, but whale selling may create resistance.

Conclusion

BitMine’s ETH accumulation underscores growing institutional conviction in Ethereum as a macro theme tied to AI and crypto. Continued reductions in exchange reserves and ETF-related demand are key drivers to watch. For COINOTAG readers, monitor ETF flows, whale balances and exchange reserves to gauge the sustainability of any ETH rally.