BitMine Adds 44 Million Dollars in Ethereum as Tom Lee Signals Long-Term Confidence

BitMine Immersion Technologies appears to have expanded its Ethereum holdings once again, with blockchain data suggesting the company purchased more than 44 million dollars worth of ETH on Thursday. Lookonchain, citing Arkham intelligence, traced the acquisition to a BitGo-linked wallet at around 5:07 p.m., though BitMine has not yet confirmed the transaction.

The move follows BitMine’s recent announcement that it had added 200 million dollars in ETH to its corporate treasury. Based on its latest official figures, the company now holds more than 3.6 million ETH, a position valued at roughly 10.9 billion dollars. That represents close to 3 percent of the global Ethereum supply.

BitMine has been open about its goal of accumulating up to 5 percent of all ETH in circulation. Chair Tom Lee has regularly expressed confidence in Ethereum’s long-term role in financial infrastructure, describing it as a neutral and reliable chain that major institutions may increasingly favor.

The purchase comes at a time when the broader crypto market is facing downward pressure. Bitcoin, ether, and most large-cap digital assets have struggled in recent weeks. Even so, Lee maintains a notably optimistic outlook for Ethereum. In a recent podcast, he predicted ETH may find support near 2,500 dollars before pushing toward the 7,000 to 9,000 dollar range by January 2026. He also shared with CNBC that he expects the United States Federal Reserve to adopt a friendlier stance by year-end, which he believes could help stabilize markets and strengthen investor confidence.

Lee reiterated his call for bitcoin to break above 100,000 dollars this year, possibly setting a new all-time high if macro conditions turn favorable.

As of today, bitcoin is trading at 91,309 dollars with a slight daily increase. Ether is priced at 3,018 dollars after a small decline.