BitMine Still Buying The Dip, Tom Lee Has Scooped $1.7B ETH Since Crash

Tom Lee’s Ether treasury agency has been aggressively shopping for the dip because the market crash earlier this month. 

BitMine Immersion Applied sciences has made its fourth buy of Ether because the document liquidity flush on October 10.

The corporate scooped up $250 million in ETH from Bitgo and Kraken on Monday, according to Arkham Intelligence which stated “These accounts match Bitmine’s prior acquisition sample.”

“Will Tom Lee ever cease shopping for?”

3.2 Million ETH Holdings

The wallets bought 63,538 ETH this week and a whopping 379,271 ETH final week. This brings the entire to 442,809 ETH price round $1.74 billion at present costs bought because the market crash.

This aggressive dip buying, which Bitcoin treasurys haven’t replicated, has pushed BitMine’s complete to round 3.17 million ETH, however the firm has but to substantiate the newest purchases formally.

This may give it round 2.6% of your entire provide of the asset, and over 50% in the direction of its goal of 5%.

🚀 From 163,000 ETH to three.24 MILLION ETH in simply 3 months. 🤯

Bitmine’s accumulation is historic, week after week, they’ve been loading the baggage nonstop:

July 14 — 163K
Aug 10 — 1.15M
Sept 14 — 2.15M
Oct 19 — 3.24M 🔥

At this tempo, they’re on observe to regulate 5% of all $ETH in… pic.twitter.com/skfLh9vQAi

— BMNR Bullz (@BMNRBullz) October 20, 2025

BitMine chairman Tom Lee is assured that this isn’t the highest of the crypto cycle. “So I believe we’re on the basement and dealing our approach again up,” he advised CNBC on Friday.

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Lee has additionally just lately stated that BitMine is making ready to roll out its personal Ethereum staking answer very quickly.

Coinbase can also be bullish about fourth quarter momentum for crypto markets and the affect of digital asset treasurys (DATs).

“Trying on the provide/demand image, it’s exhausting to overstate the affect that digital asset treasury firms have had on markets this 12 months,” wrote David Duong, head of analysis at Coinbase Institutional, in a current analysis paper.

Ether Costs Retreat

The identical crypto market sample has enjoying out day by day: Asia pumps markets with shopping for, and America dumps with promoting, stopping any sustained upward momentum.

Because of this, Ether costs have fallen again beneath $4,000 once more. ETH hit an intraday excessive of $4,080 in early buying and selling on Monday, however sustained promoting stress on the US timezone pushed it again right down to $3,940 the place it presently trades.

The asset has solely seen a marginal restoration from its double dip in October and must clear $4,000, and keep above it, to see any actual progress.

Ethereum’s weekly chart is “loading a monster transfer” with a double retest of the exponential transferring common, observed analyst ‘Merlijn the Dealer” who added that it pumped 70% final time this was seen.