The company views the accumulation as strategic positioning for long-term blockchain adoption in traditional finance.
Ethereum News
Ethereum treasury company BitMine purchased $150 million worth of Ethereum on Wednesday, maintaining its aggressive accumulation strategy through recent market turbulence. The firm continues to work toward its goal of holding 5% of total circulating supply.
On-chain analytics platform Arkham showed BitMine acquired 18,345 Ethereum through BitGo and 30,278 Ethereum through Kraken. The company has not officially confirmed the transaction.
The world's largest Ethereum treasury company has consistently purchased Ethereum throughout 2025, including during November's market slump. BitMine bought 96,798 Ethereum in the final week of November, pushing holdings above 3% of total circulating supply.
BitMine has repeatedly stated its commitment to supporting Ethereum's expanding role in financial market services. The company views the accumulation as strategic positioning for long-term blockchain adoption in traditional finance.
BitMine stock closed up 5.48% Wednesday at $33.66 while remaining down 21.47% over the past month. The company continues executing its long-term treasury strategy despite short-term price volatility.
Digital asset treasuries have reduced Ethereum purchases significantly since peaking in August. Bitwise data shows Ethereum treasuries collectively purchased around 370,000 Ethereum in November, representing an 81% decrease compared to 1.97 million Ethereum in August.
BitMine chair Tom Lee remains optimistic about near-term price action, citing several imminent catalysts for Ethereumereum. Lee highlighted the Fusaka upgrade and the Federal Reserve's planned end of quantitative tightening as key factors driving recent accumulation decisions.
Lee projected that Ethereum will rise toward $7,000 to $9,000 by the end of January 2026 in recent interviews. The cryptocurrency currently trades at $3,215, up 5.7% in the past day.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
