Ethereum News Today: BitMine Targets 5% Ethereum Supply With $24.5B Funding Push

BitMine, under the leadership of Chairman Tom Lee, has intensified its strategic focus on Ethereum, aiming to acquire 5% of the total Ethereum supply. This initiative includes a $250 million private placement and aggressive equity financing, with plans to raise up to $24.5 billion to further fund ETH purchases [1]. As of August 15, 2025, BitMine holds 1.297 million ETH, valued at approximately $5.26 billion, positioning it as the top Ethereum treasury globally and the second-largest crypto treasury, trailing only Bitcoin-focused entities [2].

The move reflects a broader institutional trend toward digital asset diversification. Ethereum’s current market capitalization stands at $525 billion, with a 13.37% dominance in the crypto market. BitMine’s acquisition strategy is designed to enhance Ethereum’s liquidity and institutional appeal, drawing comparisons to MicroStrategy’s Bitcoin strategy [3]. Institutional investors, including Founders Fund and Kraken, are backing BitMine’s pivot, signaling a growing confidence in Ethereum as a core digital asset [4].

Tom Lee has also publicly advocated for the creation of a U.S. Bitcoin strategic reserve, arguing that the United States must solidify its presence in digital assets to maintain global economic leadership. This proposal has gained traction among financial leaders and policymakers, including U.S. Treasury Secretary J. Besant [1]. While Lee has previously speculated that Bitcoin could reach $250,000 if the Federal Reserve resumes rate-cutting, such projections remain speculative and should not be conflated with current market conditions or policy actions [5].

BitMine’s strategic shift from Bitcoin to Ethereum highlights the evolving dynamics in institutional digital asset portfolios. The firm’s approach reflects a broader industry movement toward recognizing the value of Ethereum and other key digital assets in portfolio diversification. As the U.S. government continues to evaluate digital asset integration into national financial strategies, the possibility of a national Bitcoin reserve is moving closer to becoming a policy reality [1].

[1] U.S. Bitcoin Strategic Reserve: Tom Lee Highlights Importance for America’s Digital Future (https://en.coinotag.com/breakingnews/u-s-bitcoin-strategic-reserve-tom-lee-highlights-importance-for-americas-digital-future/)

[2] Ethereum Whale Activity Surges: $280M Purchased In 24 Hours (https://blockchair.com/news/ethereum-whale-activity-surges-280m-purchased-in-24-hours--7b0b491fa5)

[3] BitMine Immersion (BMNR) Is The 1 ETH Treasury In The World (https://www.barchart.com/story/news/34219166/bitmine-immersion-bmnr-is-the-1-eth-treasury-in-the-world-now-2nd-largest-crypto-treasury-globally-and-the-10th-most-liquid-us-stock-trading-6-4-billion-per-day-on-average)

[4] BitMine’s Ethereum Strategy Under Tom Lee: Exploring Institutional Interest in Digital Asset Diversification August 18, 2025 (https://en.coinotag.com/bitmines-ethereum-strategy-under-tom-lee-exploring-institutional-interest-in-digital-asset-diversification/)

[5] Bitcoin surged to a new all-time high above $124300 on... (https://www.facebook.com/groups/cryptogb/posts/24192559490364489/)