Institutional appetite for Ethereum strengthens as BitMine seizes opportunity amid $19B market wipeout
BitMine, the world’s largest corporate holder of Ether (ETH), made a bold move during the recent market turmoil — acquiring more than 200,000 ETH worth $827 million over the weekend. The purchase, described as “aggressive”, underscores rising institutional conviction in Ethereum’s long-term value despite the broader market’s volatility.
According to a company update shared Monday, BitMine added 202,037 ETH at an average price of $4,154, lifting its total holdings past 3 million ETH, equivalent to roughly 2.5% of Ethereum’s circulating supply. The new total brings BitMine’s crypto portfolio value to about $13.4 billion, including $12.9 billion in digital assets, 192 Bitcoin (BTC), $104 million in cash, and a $135 million equity stake in Eightco Holdings.
“Volatility creates opportunity,” says Tom Lee
BitMine’s chairman Tom Lee, who also serves as head of research at Fundstrat, said the firm viewed last week’s crash as a strategic entry point.
“The crypto liquidation over the past few days created a price decline in ETH, which BitMine took advantage of,” Lee explained. “Volatility creates deleveraging, and this can cause assets to trade at substantial discounts to fundamentals — what we call a ‘substantial discount to the future.’”
Lee added that the company is now “more than halfway” toward its goal of owning 5% of Ethereum’s total supply, a plan internally referred to as the “alchemy of 5%.”
Market crash becomes an institutional buying signal
BitMine’s buying spree followed a $19 billion liquidation event, triggered by panic selling after the U.S. imposed 100% tariffs on China. While many traders suffered losses, large entities like BitMine used the correction to accumulate.
“This move could inspire other corporate treasuries to adopt similar long-term accumulation strategies,” noted BITX market strategist familiar with institutional flows.
BitMine’s stock (BMNR) remains among the top 25 most-traded U.S. equities, averaging over $3.5 billion in daily volume, though it slipped 11% last week amid short-seller criticism.
Still, Lee maintains confidence: “Ethereum’s fundamentals remain strong, and long-term holders are being rewarded for conviction.”
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.