In a significant move reflecting growing confidence in the cryptocurrency market, BitMine has added over $112 million worth of Ethereum (ETH) to its treasury. This acquisition occurred on Wednesday, reinforcing the company”s ongoing strategy to accumulate digital assets. Under the leadership of Tom Lee, BitMine aims to secure 5% of the total supply of ether, further solidifying its position in the crypto landscape.
Data from tracking platforms indicates that BitMine acquired approximately 33,504 ETH through the FalconX platform; however, the company has yet to officially confirm the transaction. This recent purchase aligns with BitMine”s broader accumulation strategy that has been evident throughout 2025. As of December 7, the company reported holding 3,864,951 ETH along with 193 BTC and $1 billion in liquid assets, in addition to a $36 million stake in Eightco Holding, a Nasdaq-listed company focusing on Worldcoin”s WLD token.
Tom Lee has consistently maintained an optimistic outlook on Ethereum”s price trajectory. Recently, he stated that ETH had tested a low of $2,500, with potential to surge to between $7,000 and $9,000 by the end of January. He pointed out that the volume of ETH purchases by BitMine has doubled compared to two weeks prior.
This substantial acquisition coincided with the Federal Reserve“s announcement of a 25 basis point cut in interest rates. Although described as “aggressive,” Fed Chairman Jerome Powell suggested that the potential for further rate cuts remains uncertain. Following the announcement, both Bitcoin and Ethereum experienced a brief pullback, despite a simultaneous uptick in the stock market.
In a recent interview with CNBC, Lee indicated that a reversal in cryptocurrency trends could emerge early in 2026. He noted that a leadership transition within the Fed, coupled with an uptick in the ISM Index above 50, could favor assets like Bitcoin and Ethereum. Historically, a rise in the ISM Index above this threshold has been associated with supercycle movements for these cryptocurrencies.
