#BitMine Adds $140M in $ETH During Market Downturn


BitMine acquired $140.58 million worth of $ETH on Tuesday, buying 48,049 tokens from a FalconX hot wallet, according to #on-chain analysts EmberCN and Lookonchain citing Arkham data. The Ethereum treasury firm led by Fundstrat co-founder Tom Lee has not officially confirmed the transaction.


The NYSE American-listed company disclosed Monday it holds 3,967,210 $ETH purchased at an average price of $3,074 per token. Current market prices value the #treasury holdings at approximately $11.6 billion.


BitMine bought 240,711 $ETH during the first two weeks of December despite ongoing market weakness. The company maintains its long-term objective to secure

5% of the total circulating Ethereum supply.


Lee said in Monday's disclosure that the best days for #crypto lie ahead. He pointed to legislative progress in Washington and rising Wall Street support as positive developments throughout 2025.


The latest purchase came as #Ethereum fell below the $3,000 level. Ether currently trades at $2,926, up 0.24% in the past 24 hours but down 12% over the past week.

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December 17, 2025 at 1:10 PM
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