FameEX Hot Topics | BitMine: Price Dislocation Presents a Buying Opportunity for Ethereum

BitMine Chairman Tom Lee has confirmed the company embarked on a significant Ethereum buying spree, capitalizing on one of the crypto market's most substantial deleveraging events earlier this month. Lee justified this aggressive accumulation by pointing to a compelling market dislocation. He stated that while ETH's open interest has retreated to its June 30 levels, the asset's fundamental outlook has dramatically improved due to an "expected Supercycle." With ETH priced at $2,500 in June, Lee framed the current price as an "attractive risk/reward" opportunity. This strategic purchasing push has accelerated BitMine's treasury goal, bringing its holdings to over 3.3 million tokens (worth $13+ billion), which represents 2.74% of the total supply and puts the firm more than halfway toward its target of 5%.

Concurrent with its buying activity, Lee has been vocally bullish on Ethereum's short-term prospects. Despite only having slightly over two months remaining in the year, he reaffirmed his prediction that Ethereum will reach $10,000 within 2024. Achieving this ambitious target would require a 150% surge from Ethereum's Monday trading price of $3,986. The market has responded positively to BitMine's confident strategy; its stock (BMNR) surged 7.92% to $53.80 on Monday, cementing a staggering six-month gain of over 691%.

Lee also highlighted BitMine's growing dominance in the digital asset treasury space, noting that its high liquidity is a major draw for institutional capital. He revealed that the combined trading volume of BitMine and MicroStrategy (MSTR) now constitutes a commanding 88% of all global Digital Asset Trading (DAT) volume. According to data from StrategicETHReserves, BitMine is the undisputed leader in corporate Ethereum holdings, with a treasury that far surpasses the next largest publicly listed company, SharpLink Gaming, which holds 840,012 tokens.

This trend extends beyond a single company, indicating a broader institutional shift. Throughout 2025, corporate treasuries have been steadily accumulating Ethereum, with total holdings across all such companies now exceeding 5.74 million ETH. This collective stake represents 4.75% of the entire Ethereum supply, signaling a strong and growing institutional belief in the asset's long-term value and its anticipated "Supercycle" growth trajectory, with current prices being viewed as a strategic acquisition window.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.