BitMine Provides $103.6M ETH As Fundstrat Predicts Rally To $5.5K

Tom Lee’s BitMine Immersion Applied sciences has added to its Ethereum stockpile with one other $103.68 million buy as Fundstrat says the altcoin is poised to surge to $5.5k.

BitMine obtained the 23,823 ETH from BitGo earlier in the present day by way of the pockets tackle “”0xF8c … 338E7,” according to an X put up by on-chain analytics platform Lookonchain.

The acquisition brings BitMine’s whole ETH treasury to 2,853,974 tokens value about $12.35 billion, consolidating its place as the biggest company ETH holder globally. The agency additionally holds 192 BTC, $113 million in Nasdaq-listed Eightco shares, and $456 million in money.

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BitMine offered its newest holdings replace for Oct 6, 2025:

$13.4 billion in whole crypto + “moonshots”
– 2,830,151 ETH at $4,535 per ETH token
– 192 $BTC cash
– $113 million Eightco stake (NASDAQ-$ORBS)
– unencumbered money $456 million

Ticker: $BMNR…

— Bitmine (NYSE-BMNR) $ETH (@BitMNR) October 6, 2025

Fundstrat Says ETH Might Soar To $5.5K As Pullback Finish Nears

Analysis agency Fundstrat, of which BitMine’s Lee can be CIO, says ETH will seemingly “backside out” over the subsequent two days after which soar greater than 26% to $5.5k.

“I don’t make a lot of crypto weak spot in latest days, and count on ETH seemingly bottoms out over the subsequent 1-2 days earlier than heading again increased,” stated Fundstrat’s Managing Director Mark Newton. 

Crypto savant @MarkNewtonCMT at it once more:

“I don’t make a lot of Crypto weak spot in latest days, and count on $ETHUSD seemingly bottoms out over the subsequent 1-2 days earlier than heading again increased and rallies to $5500.  

– Following a latest robust technical rally from 9/25 into 10/7 in… pic.twitter.com/LCQDtGpDXs

— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) October 9, 2025

The ETH value has dropped over 2% within the final 24 hours, in line with knowledge from CoinMarketCap.

ETH value (Supply: CoinMarketCap)

After reaching a brand new all-time excessive (ATH) of $4,953.73 on Aug. 24, the altcoin chief’s value has retraced greater than 12% to commerce at $4,349.22 as of 1:35 a.m. EST. 

Quick-Vendor Says BitMine’s Technique Of Promoting Fairness To Purchase ETH Is A ”Relic”

The latest ETH transaction comes only a day after the short-seller Kerrisdale Capital focused BitMine in its newest report, saying its ETH treasury technique is “chasing a mannequin that’s on its method to extinction.” 

Kerrisdale argued that BitMine’s technique of promoting shares at a premium to buy ETH and develop its token-per-share metric is now not efficient, highlighting that the corporate’s worth in comparison with its crypto holdings is narrowing.

“The sheer velocity of BMNR’s inventory issuance has turned early enthusiasm into fatigue, with buyers conditioned to imagine each rally might be met by extra provide,” it stated. “Whereas the corporate nonetheless experiences headline progress in whole ETH tokens, the tempo of ETH-per-share accretion has slowed because the NAV premium narrows and the share depend balloons – a pattern made tougher to observe after BMNR quietly dropped up-to-date share counts from its weekly press releases.”

Kerrisdale additionally revealed that it has opened a brief place on BitMine’s inventory, which is a guess that the corporate’s share value will fall. 

This isn’t the primary time Kerissdale has predicted inventory drops for crypto-related firms. It has additionally focused Riot Platforms and Technique, that are two of the biggest Bitcoin treasury firms globally. 

Riot dismissed Kerrisdale’s findings as “unsound,” whereas Technique ignored the report. 

BitMine share value (Supply: Google Finance)

BitMine’s share value dropped over 1% after the brief vendor launched its report, nevertheless it’s nonetheless up greater than 3% prior to now week, and has exploded by 14,650% in six months, in line with Google Finance. 

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