BitMine Boosts Its Ethereum Reserve to $11 Billion With Another Major Purchase

While the crypto market is going through a phase of uncertainty, BitMine, one of the largest institutional holders of Ethereum, has just made a massive purchase of 48,049 ETH, approximately $140 million. This operation, confirmed by on-chain data, comes after a recent investment of $320 million in ETH and highlights a clear strategy: accumulate despite the falling prices.

BitMine Adds $140 Million of ETH to Its Treasury

BitMine does not hide its ambitions on Ethereum. After recently investing $320 million in ETH, Tom Lee’s company has just added 48,049 ETH to its crypto treasury, for an estimated amount of $140 million, thus bringing its treasury to $11.6 billion. This purchase, made through FalconX, has been confirmed by sources such as Arkham Intelligence and relayed by accounts on X (formerly Twitter).

This accumulation strategy is part of a long-term vision. Tom Lee, chairman of BitMine, has often stated that ETH is a strategic asset, particularly for its role in decentralized finance and emerging technologies like artificial intelligence. Despite the current crypto market downturn, BitMine seems more convinced than ever of Ethereum’s potential. A conviction that could inspire other institutional players to follow the movement.

BlackRock Transfers $140 Million of ETH: Coincidence or a Trend?

While BitMine accumulates an additional $140 million of ETH, another giant, BlackRock, recently transferred $140 million of Ethereum to Coinbase Prime, according to recent information. This move raises questions: is it simple portfolio management or anticipation of a crypto market rebound?

BlackRock, the global leader in asset management, is known for its strategic investments. This transfer could therefore be linked to preparing its crypto ETFs or anticipating the growing adoption of Ethereum by institutions. Like BitMine, BlackRock seems to see ETH as a promising asset despite current fluctuations. These simultaneous moves could indicate a broader trend: crypto whales betting on Ethereum, even in times of doubt.

Crypto: Ethereum Down 25% from Its Peak, How Far Can It Still Fall?

Ethereum is currently going through a difficult period. Indeed, with a 25% drop from its recent peak and a slight fall of 0.87% in the last 24 hours, crypto investors wonder: how far can ETH still go down? According to data, key supports are at $2,800, then $2,500. A break below these levels could lead to a drop toward $2,200.

Analysts are divided. Some predict a rebound to $7,500 in 2026, while others fear a tough year-end if institutional volumes do not follow. Macro-economic factors, such as the recent Fed rate cut, could play a key role. One thing is certain: Ethereum remains under watch, caught between hopes for a rebound and fears of another fall.

BitMine and BlackRock, despite their different profiles, send a clear message: Ethereum remains an attractive asset, even in a downturn. Their massive purchases raise one question: is this an opportunistic “buy the dip” or a deep conviction in the Ethereum crypto ecosystem? The answer likely lies in the coming days. But according to you, will ETH manage to rebound, or does this massive accumulation precede another drop?