BitMine adds $1.5B in Ether to reserves after crypto sell-off
The post BitMine adds $1.5B in Ether to reserves after crypto sell-off appeared on BitcoinEthereumNews.com.
BitMine Immersion Technologies has accumulated about $1.5 billion worth of Ethereum since the market crash. The purchase is coming amid Fundstrat’s Tom Lee’s sentiment that digital assets treasury hype might be on its last legs. However, he maintained that he remains bullish on Ethereum as the market continues to move slowly. According to reports, since the liquidation event that enveloped the market last weekend, BitMine has accumulated about 379,271 Ethereum, which is currently worth almost $1.5 billion in today’s market. The BitMine acquisition came in three separate purchases. The company purchased 202,037 ETH after the weekend crash, 104,336 ETH on Thursday, and 72,898 ETH on Saturday, according to data from on-chain platform Arkham Intelligence. While the purchases were also made public by BMNR Bullz, which tracks BitMine’s purchases, the firm has yet to confirm the purchases officially. BitMine makes $1.5 billion ETH purchase post-crash BitMine is one of the largest Ethereum treasury companies in the world, with a stash of more than three million ETH. The total cache represents about 2.5% of the entire supply, worth $11.7 billion. The company is currently halfway towards its target of owning at least 5% of the total Ethereum in circulation, with BitMine only kick-starting the acquisition of the asset around July 2025, when the asset was selling for around $2,500. In an earlier interview, Lee claimed that Ethereum could eventually surpass Bitcoin’s market share, noting the way US equities overtook gold 54 years ago as a perfect example. He highlighted that it made the US abandon the gold standard. “Ethereum could flip Bitcoin, similar to how Wall Street and equities flipped gold post 71,” Lee told ARK Invest CEO Cathie Wood on Thursday in his latest bullish statement on the asset. Presently, Bitcoin’s market cap is about five times larger than Ethereum’s. Lee…
Filed under: News - @ October 19, 2025 10:25 am