BitMine Benefits From Dips: ETH Drops 20% From Peak

The global Ether (ETH) market has been experiencing considerable turmoil recently, but that hasn't stopped BitMine, the largest digital asset treasury for Ether, from capitalizing on the declines. The Tom Lee-led organization has seized the opportunity to buy more, with an impressive purchase of 104.336 Ether, worth approximately $417 million. This was recorded via on-chain (blockchain) data.

In the past seven hours, three new wallets received these assets from Kraken and BitGo, according to Lookonchain, although BitMine has not yet officially confirmed the transactions. Despite the fluctuations in the crypto market, Lee remains optimistic; he predicts that ETH will reach $10.000 by the end of the year.

It's worth noting that this bullish prediction isn't isolated. Earlier this week, both Lee and Arthur Hayes, co-founder of BitMEX, confirmed their estimates that Ether is meeting that target. Blockchain intelligence firm Arkham reports that three new whale wallets recently acquired $75 million worth of ETH each, demonstrating that the acquisition patterns align with BitMine's.

BitMine has capitalized on the recent price drops to buy ETH, seizing the opportunity last weekend to acquire 202.037 ETH tokens. According to Tom Lee, BitMine strategically exploited the liquidation in the crypto markets over the past few days, allowing them to profit from the lower prices.

Digital capital continues to invest in dip

Besides BitMine, other digital asset treasuries also appear unaffected by the market turmoil, taking advantage of recent price drops to expand their holdings. BitMine has now reached its target of 50% of its treasury holdings, with an impressive accumulation of 3 million ETH, equivalent to 2,5% of the total Ether supply.

This figure is particularly significant, as it means BitMine now holds half of the Ether that all public corporate treasuries have pooled together — currently 5,9 million ETH, worth a total of around $23,7 billion, according to StrategicEthReserve.

The strategic purchases by these major players come amid an ongoing downward trend in the Ether markets. ETH recently dropped to $3.945, a 20% drop from its record high of $4.946 in August. The price appears to be stabilizing somewhat now, trading above the psychological $4.000 mark.

Despite this, Lee and other analysts remain optimistic that Ether will resume its bullish trend within a few months. Analyst “Rekt Fencer” noted that Ethereum's price pattern Bitcoin from 2020-2021 follows, and predicts a possible increase to $15.000 this quarter. Another market analyst, "Crypto Bullet," also drew comparisons between Bitcoin's chart patterns in 2024 and those of Ether in 2025, stating that they exhibit the exact same pattern, predicting a rise to $6.000 to $7.000 this year.

Frequently Asked Questions

What are the main reasons behind BitMine's recent purchases?
BitMine has used the recent price drops to add to its Ether position, allowing them to capitalize on lower prices following liquidations in the market.

How much Ether does BitMine currently own?
BitMine has collected 3 million ETH, which represents 2,5% of the total Ether supply, giving them the ability to influence a significant portion of the market.

What can investors expect from the Ether market in the near term?
Analysts like Tom Lee and Arthur Hayes are optimistic that ETH will rise again, with price targets ranging from $6.000 to $15.000 depending on market developments.