Ethereum News Today: BitMine Buys $130M Ethereum Amid $8B Sell-Off 30% Price Rally Fuels Institutional Optimism

BitMine, under the leadership of Tom Lee, has executed a significant Ethereum purchase during a recent market dip, acquiring 28,650 ETH at a cost of $130 million. This move has increased the firm’s total Ethereum holdings to 1.174 million ETH, valued at approximately $5.26 billion. The acquisition took place amid broader market turbulence, as Ethereum faced an $8 billion sell-off, prompting widespread uncertainty in the cryptocurrency space [1]. BitMine’s decision to buy during the downturn highlights its long-term investment strategy and confidence in Ethereum’s future value [2].

The timing of the purchase is particularly notable, as it aligns with a broader trend of institutional interest in Ethereum. Over 10 public companies have reportedly established Ethereum treasuries, signaling a growing acceptance of the asset among traditional financial players [5]. Tom Lee emphasized that the company’s approach is dictated by changing market conditions and a long-term vision for Ethereum’s role in the evolving digital asset landscape. “Market conditions always change; we shape our strategic investments accordingly,” he stated [2].

Ethereum demonstrated a strong recovery following the sell-off, with the price reaching $4,760 on August 15. The asset has gained over 30% in the preceding week, reflecting a rebound fueled in part by increased institutional buying and treasury accumulation [4]. This resurgence has been supported by major ETF providers, including BlackRock, which have shown heightened interest in both Bitcoin and Ethereum, reinforcing the narrative of growing institutional adoption [7].

The broader crypto market has also seen a surge in “buy the dip” sentiment, particularly among large players. Whale activity has intensified, with total Ethereum holdings increasing significantly. Some analysts have drawn comparisons between Ethereum’s trajectory and Bitcoin’s, with Tom Lee suggesting that Ethereum could potentially experience a 100x price movement similar to Bitcoin’s historic growth [6]. While such projections remain speculative, they underscore the increasing optimism surrounding Ethereum’s long-term potential.

Despite this confidence, the short-term outlook remains cautious. Some traders are anticipating a potential price correction to as low as $2,400, viewing it as a more favorable entry point. However, the recent accumulation by firms like BitMine sends a clear signal of institutional confidence in Ethereum’s resilience and future value [8]. The market remains closely watching for further whale activity and institutional investment that could influence Ethereum’s next phase of price action.

As the crypto market continues to evolve, BitMine’s bold move serves as a case study in strategic investment amid volatility. The company’s actions have reignited institutional interest in Ethereum, potentially setting the stage for continued growth as the broader adoption of digital assets accelerates.

Source:

[1] Coindoo - [https://coindoo.com/bitmine-snaps-up-130m-in-ethereum-during-market-sell-off/](https://coindoo.com/bitmine-snaps-up-130m-in-ethereum-during-market-sell-off/)

[2] Coinpedia - [https://coinpedia.org/price-analysis/ethereum-price-analysis-whats-next-for-eth-amid-mixed-whale-activity/](https://coinpedia.org/price-analysis/ethereum-price-analysis-whats-next-for-eth-amid-mixed-whale-activity/)

[3] The Economic Times - [https://m.economictimes.com/news/international/us/ethereum-rebounds-after-8b-sell-off-are-whales-secretly-plotting-a-5k-comeback/articleshow/123323001.cms](https://m.economictimes.com/news/international/us/ethereum-rebounds-after-8b-sell-off-are-whales-secretly-plotting-a-5k-comeback/articleshow/123323001.cms)

[4] Bitget - [https://www.bitget.com/news/detail/12560604914328](https://www.bitget.com/news/detail/12560604914328)

[5] AInvest - [https://www.ainvest.com/news/ethereum-news-today-ethereum-price-soars-300-institutional-treasuries-drive-adoption-2508/](https://www.ainvest.com/news/ethereum-news-today-ethereum-price-soars-300-institutional-treasuries-drive-adoption-2508/)

[6] Blockchain News - [https://blockchain.news/flashnews/eth-100x-claim-cited-by-crypto-rover-tom-lee-says-ethereum-could-mirror-btc-style-move-trading-takeaways](https://blockchain.news/flashnews/eth-100x-claim-cited-by-crypto-rover-tom-lee-says-ethereum-could-mirror-btc-style-move-trading-takeaways)

[7] XT.com - [https://www.xt.com/en/blog/community-news/2025-08-15T14:00:00.000Z](https://www.xt.com/en/blog/community-news/2025-08-15T14:00:00.000Z)

[8] InteractiveCrypto - [https://www.interactivecrypto.com/ethereum-price-target-could-4700-be-your-ticket-to-massive-gains](https://www.interactivecrypto.com/ethereum-price-target-could-4700-be-your-ticket-to-massive-gains)