$ETH Treasury Leader #BitMine Adds $417M During Price Decline


BitMine Immersion Technologies acquired 104,336 $ETH worth $417 million as markets declined, according to on-chain tracking data. The purchase came through three new wallet addresses receiving transfers from Kraken and BitGo across seven separate transactions.


Lookonchain identified the movements using Arkham Intelligence data, though BitMine has not publicly confirmed the #acquisition. The company's official holdings reached 3.03 million $ETH valued at approximately $12.2 billion as of its Oct. 13 update.


Fundstrat co-founder Tom Lee chairs BitMine, which operates the largest $ETH #treasury among public companies. The firm trails only Michael Saylor's #Strategy in total crypto holdings across all digital assets.


BitMine has repeatedly stated its objective to accumulate 5% of Ethereum's total supply. The company says it supports Ethereum's expanding role in providing infrastructure for financial market services.


Lee endorsed $ETH during Korea Blockchain Week last month, predicting that Wall Street institutions and government agencies will favor the network. He described Ethereum as a truly neutral blockchain suitable for enterprise adoption.


The $417 million purchase occurred while $ETH traded down 8.7% over seven days at $4,028. The asset remains 18.5% below its all-time high of $4,946 reached in August 2025.

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October 16, 2025 at 11:36 AM
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