BitMine buys $44 million worth of Ethereum as Tom Lee gives bullish outlook
Quick Take BitMine purchased 14,618 ETH on Thursday, according to data from Arkham Intelligence. BitMine Chair Tom Lee said Ethereum could possibly trade between $7,000 and $9,000 by the end of January 2026.
Tom Lee's BitMine Immersion Technologies added 14,618 ETH to its corporate Ethereum treasury on Thursday.
Lookonchain, using Arkham data, reported that BitMine acquired $44.34 million worth of ETH through wallet "0xbd0…E75B8" from BitGo at around 5:07 p.m. yesterday. However, this transaction has not been officially confirmed by BitMine.
This transaction comes a few days after the world's largest ETH treasury firm announced buying $200 million worth of the cryptocurrency to its stash. As of its last official announcement, BitMine holds 3,629,701 ETH worth about $10.9 billion. Its holdings represent around 3% of total Ethereum supply.
The company has repeatedly stated its goal of accumulating 5% of the total supply and expressed its commitment to supporting Ethereum's growing role in financial market services. BitMine Chair Tom Lee has endorsed Ethereum on multiple occasions, saying Wall Street players and the White House will favor Ethereum in their future blockchain endeavors as it is a "truly neutral chain."
ETH to $9,000
Meanwhile, bitcoin, ether and most other cryptocurrencies have been experiencing a significant downturn in recent weeks. However, in a recent podcast interview , Lee predicted that ETH would bottom near $2,500 and then rise toward $7,000 to $9,000 by the end of January 2026.
Lee also said in a recent CNBC interview that he expects the Federal Reserve to turn dovish by the year-end, and relieve pressure from the market by providing macroeconomic clarity for traders. He gave a prediction that bitcoin may surge above $100,000 by the year-end or even to a new high.
According to The Block's price page , bitcoin is trading at $91,309, up 0.13% in the past day, while ether is down 0.69% at $3,018.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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