Ethereum News Today: BitMine Leverages Trade War-Driven Crash to Buy Ethereum at a Discount

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BitMine Technologies, the largest corporate holder of Ethereum (ETH), capitalized on a crypto market downturn to acquire 202,037 ETH - valued at $828 million at current prices - bringing its total holdings to over 3.03 million ETH, or 2.5% of the total supply This is the Full Title of the First News Article^[1]. The purchases followed a sharp sell-off triggered by U.S.-China trade tensions, with Ethereum prices plummeting from $4,500 to $3,500 before rebounding to $4,100 by Monday. Chairman Thomas Lee framed the move as a strategic opportunity amid volatility, stating that "deleveraging creates assets trading at substantial discounts to fundamentals" This is the Full Title of the First News Article^[1].

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The company's aggressive accumulation intensified in late October, with an additional 23,823 ETH ($103.68 million) added to its treasury via a BitGo wallet transfer, according to blockchain analytics firm Lookonchain This is the Full Title of the Second News Article^[2]. BitMine's Ethereum holdings now exceed $12.4 billion in value, securing its position as the second-largest crypto treasury after MicroStrategy's Bitcoin reserves. Fundstrat Co-Founder Tom Lee reiterated the firm's goal to acquire 5% of Ethereum's total supply, a target requiring an additional 3 million ETH.

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The purchases coincided with the crypto market's worst liquidation event in history, as Trump's 100% tariff threat on Chinese imports wiped out $19 billion in leveraged positions within 24 hours This is the Full Title of the Fifth News Article^[5]. Bitcoin fell 10% in five days, while Ethereum dropped 14%, triggering cascading margin calls. BitMine, however, leveraged the turmoil to accumulate assets at discounted prices. Blockchain data revealed that addresses linked to the firm withdrew 128,718 ETH ($480 million) from Kraken and FalconX during the crash, aligning with its reported holdings This is the Full Title of the Fifth News Article^[5].

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Technical analysts highlight Ethereum's strong rebound, with prices recovering 20% from the October 11 low and forming a bullish "cup" pattern on the 4-hour chart This is the Full Title of the Third News Article^[3]. The RSI and MACD indicators suggest easing bearish momentum, with key resistance near $4,450. BitMine's continued buying has bolstered institutional confidence in Ethereum, though macro risks like the Fed's rate policy and U.S.-China trade dynamics remain critical This is the Full Title of the Third News Article^[3].

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The market turmoil exposed systemic vulnerabilities in leveraged trading, with over 1.6 million accounts liquidated across exchanges This is the Full Title of the Fifth News Article^[5]. While BitMine's staking operations and validator nodes generate 3-5% annual yields, the firm's balance sheet now reflects a $1.9 billion floating loss from September's price drop. Despite this, CEO Tom Lee predicts Ethereum will return to $4,500–$5,000 by year-end, a forecast that could unlock $35–40 million in unrealized gains for BitMine's recent acquisitions This is the Full Title of the Fifth News Article^[5].

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Institutional investors, including Ark Invest and Founders Fund, have backed BitMine's strategy, reflecting broader confidence in Ethereum's long-term fundamentals. The network's upcoming Fusaka upgrade in December, which introduces data-scaling technology PeerDAS, is expected to enhance developer activity and use cases This is the Full Title of the Third News Article^[3]. With exchange-held ETH reserves declining 3.46% weekly, supply-side pressure continues to ease, reinforcing bullish sentiment.