BitMine has elevated its ETH purchases through the ongoing market dip, whereas Tom Lee strikes his Bitcoin prediction.
BitMine Immersion Applied sciences has been on a serious ETH shopping for run this yr, even through the tough patches for the crypto market.
Not too long ago, the corporate spent near 70 million {dollars} on Ether in solely three days. This push provides to an already massive stockpile that makes BitMine one of many greatest ETH holders within the company house.
BitMine Continues To Purchase Extra ETH
The agency purchased 7,080 ETH for roughly $19.8 million on Monday.
It additionally purchased 16,693 ETH for about $50.1 million over the weekend. Knowledge from Lookonchain exhibits that these purchases comply with a gentle sample of accumulation.
Final week, Bitwise additionally added 96,800 ETH, exhibiting that a number of corporations proceed to be assured regardless of the current downturn.
TOM LEE WILL NOT STOP BUYING $ETH
Bitmine has purchased 96.8K ETH prior to now week (at the moment value $273.2M). He nonetheless has $880 MILLION to purchase ETH with.
Tom Lee purchased the dip, and the following dip, and the dip after that. Bitmine now holds $10.5 Billion of ETH. pic.twitter.com/Qq5KdvnauN
— Arkham (@arkham) December 1, 2025
BitMine now holds round 3.7 million ETH. Its common buy worth sits close to $3,008 per coin and present costs sit beneath that degree, so the place exhibits a paper loss.
Nonetheless, the agency says it’s greater than midway to its long run intention of proudly owning 5% of all ETH in circulation.
BitMine Chairman Tom Lee Revises Bitcoin Outlook Once more
Tom Lee has modified his Bitcoin prediction a number of instances this yr. Earlier than October, he anticipated Bitcoin to hit $250,000 by the tip of the yr. Because the market slid, he dialed that again.
He later stated Bitcoin may solely return to its all time excessive by the tip of this yr.
That modified once more. In a weekend interview with CNBC, Lee stated Bitcoin could attain a brand new excessive in January. He stated this can depend upon a rebound in equities.
JUST IN: Tom Lee predicts #Bitcoin might hit a brand new all-time excessive in January 🚀 pic.twitter.com/w64QvMbFtj
— Bitcoin Journal (@BitcoinMagazine) December 1, 2025
He additionally believes that shares will get well quickly, which might help Bitcoin.
Lee additionally sees a protracted progress cycle forming round ETH. He in contrast right this moment’s Ether market to Bitcoin in 2017 and argued that Bitcoin went by way of harsh drops earlier than it surged greater than 100 instances in worth.
Now, he believes ETH could comply with an identical path.
Associated Studying: BitMine Provides 14,618 ETH to Treasury After Worth Rebound
BitMine Holds Agency on Its Lengthy ETH Technique
BitMine promotes itself as the biggest ETH-focused digital asset treasury. The corporate tracks its progress by way of trade platforms that monitor company holdings.
Although its place sits underwater, BitMine has proven no signal of slowing down.
The corporate has made it clear that its plan stretches throughout a few years. Administration says its goal stays 5% of all ETH, and its present holdings put it at about 62% of that aim.
Lee stated the corporate first backed Bitcoin for Fundstrat purchasers when BTC traded near $1,000.
Since then, Bitcoin has dropped many instances, together with a number of main pullbacks close to 7%. But it nonetheless climbed to greater than 100 instances that worth. He believes ETH could also be getting into what he calls a Supercycle.
He stated current ETH weak spot comes from doubt reasonably than a breakdown. He argued that long-term buyers typically wanted to handle robust moments to see massive good points later.
ETH has lagged Bitcoin for many of the yr. Ether reached its file excessive of $4,946 in August, and Bitcoin then pushed over $126,000 in October.
This hole has induced debate amongst buyers about ETH’s place within the subsequent bull cycle.