 
 
BitMine Immersion Applied sciences (BMNR), the Ethereum-focused digital asset treasury agency led by Wall Avenue strategist Thomas Lee, stored shopping for ether (ETH) by way of final week, including 54,156 tokens value round $170 million to its treasury, the agency introduced on Monday.
BitMine now holds almost 3.6 million ETH valued at over $11.1 billion, making it the largest publicly traded Ethereum treasury on the planet, and the second largest crypto treasury total behind Michael Saylor’s Technique and its $61 billion Bitcoin stockpile.
The Ether-buying agency additionally holds 192 Bitcoin (value roughly $17 million) and $607 million in money holdings.
Identical to Technique, BitMine continues scooping up extra ETH regardless of the battered costs. The trade’s second most beneficial crypto has declined by over 15.6% previously week, and is now 39.7% off its August 2025 file peak.
Lee Pinpoints Cause Behind Present Crypto Weak point
Regardless of the present downturn, BitMine Chairman Tom Lee remains to be calling for an ETH “supercycle”, asserting that the token has not reached a cycle peak but.
 
In a Sunday put up on X, Lee recalled that he first advisable Bitcoin to purchasers of his analysis agency Fundstrat again in 2017 when it was valued at about $1,000, and it had endured a number of worth drops of as much as 75% within the years since.
Nonetheless, BTC has now “100x from our first suggestion,” Lee posited. “We imagine ETH is embarking on that very same Supercycle.”
In response to Lee, the crypto market remains to be trying to get well from the historic liquidation occasion in October, which noticed almost $20 billion in positions annihilated in sooner or later. The present weak spot corroborates hypothesis {that a} wounded market maker might have pulled again operations after the crash.
“When a market maker has a ‘gap’ on their steadiness sheet, they’re in search of to boost capital and are lowering their liquidity features out there,” he opined. “That is the equal of QT (quantitative tightening) for crypto, and has the impact of dampening costs. In 2022, this QT impact lasted for 6-8 weeks. And that is in all probability taking place in the present day.”
Lee, who was an early Bitcoin permabull, has remained tremendous optimistic on year-end worth forecasts. Earlier this month, he prompt that Bitcoin might grind as much as $200,000 earlier than year-end, with Ethereum doubtlessly rocketing to the $7,000 threshold by the tip of 2025.
