BitMine’s massive purchase and a string of public warnings have left markets watching Ethereum carefully this week. Large strikes have been made through the sell-off, and companies and buyers at the moment are weighing whether or not these buys imply confidence or just a wager on a rebound.
Giant Scale Accumulation Continues
In accordance with onchain knowledge from Arkham Intelligence and the tracker ‘BMNR Bullz’, BitMine Immersion Applied sciences purchased a complete of 379,271 ETH in three separate purchases: 202,037 ETH after the weekend crash, 104,336 ETH on Thursday, and 72,898 ETH on Saturday.
Reviews have disclosed the haul is price nearly $1.5 billion. The purchases haven’t been formally confirmed by BitMine, however the transfers have been seen on public ledgers.
BitMine’s Place And Timing
BitMine is reported to carry greater than 3 million ETH, which equates to about 2.5% of your complete provide, and that stash was valued at roughly $11.7 billion at latest costs.
🚨 MASSIVE ETHEREUM ACCUMULATION
Bitmine simply went ALL IN on $ETH scooping up a complete of 379,271 ETH ($1.48B) through the dip! 👀
💰 +72,898 ETH ($281M) yesterday’s dip
💰 +104,336 ETH ($417M) 3 days in the past
💰 +202,037 ETH after the weekend crashTom Lee wasn’t joking when he mentioned… pic.twitter.com/oiyhLO79wk
— BMNR Bullz (@BMNRBullz) October 18, 2025
Based mostly on studies, the agency has set a aim of reaching 5% of provide and solely started constructing the treasury in early July when Ether was close to $2,500.
Tom Lee of Fundstrat has additionally been shopping for — he mentioned he bought $1.5 billion price of Ether because the market crash — signaling that some massive gamers see long-term upside.
Questions Raised About DAT Pricing
Reviews say Lee warned that the hype round digital asset treasuries, or DATs, could also be fading, with many DATs buying and selling at or under their web asset worth (NAV).
Analysis agency 10x Analysis reported that a number of main DATs have been close to or underneath NAV. That has led buyers to ask whether or not the buying and selling reductions mirror lasting bother or a quick market reset.
Huobi founder Li Lin is reportedly elevating about $1 billion to place into an Ether treasury, which exhibits some companies nonetheless need publicity regardless of a budget buying and selling ranges.
Bullish Views Meet Market Stress
In accordance with Lee, Ethereum may “flip” Bitcoin in a means he in comparison with how Wall Avenue and equities overtook gold after 1971. He additionally warned buyers are nonetheless “licking their wounds” from a report leverage flush.
Markets are down 15% from the October 7 excessive, whereas gold has eased about 3% from its peak. These strikes are shaping the place massive holders place their bets.
Over the weekend I witnessed one thing each crypto investor ought to take note of. Ethereum, the most important blockchain on the earth, acquired congested and charges skyrocketed previous $1,000 simply to course of small transactions. That’s like paying a thousand-dollar toll to drive on a one-lane… pic.twitter.com/m9o1sRUQE0
— Kevin O’Leary aka Mr. Great (@kevinolearytv) October 16, 2025
Community Pressure
In the meantime, primarily based on social posts and blockchain knowledge, Kevin O’Leary sounded the alarm about congestion on Ethereum after charges spiked through the sell-off.
He wrote that easy transactions briefly carried charges of as a lot as $1,000, calling consideration to limits in dealing with sudden demand.
Etherscan knowledge confirmed common day by day gasoline costs hit a nine-month excessive final Friday, which was confirmed by market trackers.
Featured picture from Unsplash, chart from TradingView
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