Ethereum News Today: BitMine Seizes Ethereum Volatility to Fuel Long-Term Blockchain Bet

BitMine Technologies, led by Thomas Lee, has surpassed 50% of its target to acquire 5% of Ethereum's total supply. As of October 12, 2025, the firm holds 3,032,188 ETH, or 2.5% of the supply, after acquiring an additional 202,037 ETH during a recent market downturn BitMine Becomes Largest ETH Holder with 2.15M Ethereum and …^[7]. This acquisition, valued at $828 million at current prices, was executed following a crypto market flash crash triggered by U.S.-China trade tensions Tom Lee's Bitmine Bought the Dip, Adding Over 200K ETH to …^[1]. Blockchain analytics firm Lookonchain noted that BitMine withdrew over 128,718 ETH ($480 million) from exchanges like Kraken and FalconX during the volatility Tom Lee's Bitmine Bought the Dip, Adding Over 200K ETH to …^[1].

Lee emphasized that the firm's strategy exploits market volatility to purchase assets at discounts to their fundamental value. "Volatility creates deleveraging and this can cause assets to trade at substantial discounts to fundamentals," he stated, adding that BitMine's approach prioritizes long-term value over short-term trading Tom Lee's Bitmine Bought the Dip, Adding Over 200K ETH to …^[1]. The company's Ethereum holdings now represent a 2.5% stake in the supply, positioning it as the largest corporate ETH treasury globally BitMine Becomes Largest ETH Holder with 2.15M Ethereum and …^[7].

Institutional backing remains a cornerstone of BitMine's strategy. The firm is supported by investors including ARK's Cathie Wood, Kraken, and Galaxy Digital BitMine Becomes Largest ETH Holder with 2.15M Ethereum and …^[7]. Its stock, NYSE AMERICAN-listed BMNR, has become one of the most actively traded in the U.S., with a five-day average daily trading volume of $3.5 billion as of October 10, 2025, ranking 22nd among listed stocks BitMine Becomes Largest ETH Holder with 2.15M Ethereum and …^[7]. This liquidity underscores investor confidence in the company's thesis of Ethereum's long-term macroeconomic potential BitMine Becomes Largest ETH Holder with 2.15M Ethereum and …^[7].

BitMine's total crypto and cash holdings, including 3.03 million ETH, unencumbered cash of $104 million, and a $135 million equity stake in Eightco Holdings, reached $12.9 billion as of October 12 BitMine Becomes Largest ETH Holder with 2.15M Ethereum and …^[7]. The company also maintains 192 Bitcoin in its portfolio BitMine Becomes Largest ETH Holder with 2.15M Ethereum and …^[7]. Lee highlighted Ethereum's role in enabling financial and AI infrastructure, stating, "Wall Street and AI moving onto the blockchain should lead to a greater transformation of today's financial system" BitMine Becomes Largest ETH Holder with 2.15M Ethereum and …^[7].

Market analysis suggests BitMine's aggressive accumulation could influence Ethereum's price dynamics. Fundstrat's Mark Newton predicted a short-term ETH bottom at $4,200–$4,220 before a potential rally to $5,500, while institutional demand for Ethereum has surged, with corporate treasuries holding 10.31% of the supply BitMine Adds $104M in ETH to Treasury as Fundstrat …^[4]. However, challenges persist, including a $10 billion validator exit queue and concerns over selling pressure if unstaked ETH enters exchanges BitMine Adds $104M in ETH to Treasury as Fundstrat …^[4].

BitMine's progress toward its 5% goal aligns with broader trends in corporate crypto adoption. Rival Ethereum treasury firm Sharplink Gaming recently executed a stock buyback to bolster its share price, reflecting sector-wide pressures to maintain asset valuations . Meanwhile, BitMine's "Moonshot" strategy, which includes strategic investments in projects like Worldcoin-linked Eightco, aims to diversify returns while reinforcing Ethereum's ecosystem .