BitMine Immersion Technologies currently holds a value of approximately 1.5 billion worth of Ethereum after the recent market crash.
The aggressive action of the company is also associated with further optimism in the cryptocurrency industry, despite the doubts regarding the sustainability of the digital assets treasuries.
BitMine Increases Ethereum Holdings.
It was reported that BitMine has earned approximately 379,271 ETH, which is worth approximately 1.5 billion dollars at present. The acquisitions were made in three transactions. According to Arkham Intelligence, 202,037 ETH, 104,336 ETH, and 72,898 ETH were purchased following the crash over the weekend, on Thursday, and on Saturday, respectively. The acquisitions were also announced by BMNR Bullz, a tracker that keeps track of the transactions of BitMine, even though the firm has not officially verified the acquisitions.
BitMine is now the holder of over three million ETH, and it is approximately 2.5 percent of the total circulating supply of Ethereum. This cache is estimated at 11.7billion. The company hopes to own 5 percent of the supply of Ethereum, the goal it started working on in July 2025, when ETH was trading at around 2,500.
Market Analysts have a Bullish View
Tom Lee of Fundstrat still has a positive outlook on the long-term prospects of Ethereum. Although Lee observed that the trend of digital asset treasury might be declining, he opined that Ethereum might become superior to the dominance of Bitcoin. He related such a possible change to how U.S. equities surpassed gold since 1971, when it dropped the gold standard.
Lee told ARK Invest founder Cathie Wood that in a recent chat, Ethereum may be priced at between 10,000 and 12,000 by the end of the year. His optimistic outlook is in line with opinions expressed by BitMEX co-founder, Arthur Hayes, who has also offered a massive rise in the ETH. Today, the market capitalization of Bitcoin is approximately five times bigger than that of Ethereum.
Ether-Treasuries have ambivalent sentiments.
Lee also discussed the issue of digital asset treasuries. He reported that some of them are currently trading at a lower price than their net asset value, indicating that the speculative bubble might have already burst. Studies by 10x Research showed that large treasuries such as Metaplanet and Strategy are trading at or below their NAV. Nevertheless, the company pointed out that a firm that had a strong capital base and management could also provide high returns.
In the meantime, Huobi founder Li Lin has been reported to have raised $1 billion to invest in an Ethereum treasury, indicating that institutional interest still prevails even with market volatility.
Tom Lee feels that the ongoing bear market is a period of consolidation and not a crypto cycle. He indicated that the leverage ratios in the crypto market are at an all-time low, which could indicate some hope of recovery. As Ethereum regained its price and institutional attention, the massive hoarding by BitMine suggests that the market is starting to believe in the long-term value of the asset, despite the uncertainty prevailing in the post-crash market.
