Led by Fundstrat co-founder Tom Lee, Ethereum vault company BitMine is once again increasing its bet on Ethereum. According to Arkham data cited by EmberCN, BitMine purchased 33,504 ETH through FalconX on Wednesday, with a total value of approximately $112 million. Although the company has not officially confirmed the transaction, its recent pace of accumulation aligns with its established strategy.
BitMine is one of the largest Ethereum vault institutions globally, continuously expanding its holdings this year and reaffirming its long-term goal — holding 5% of the total ETH supply. According to its latest 8-K filing, as of December 7, BitMine holds 3,864,951 ETH, 193 BTC, $1 billion in cash, and $36 million in Eightco Holding shares (the company related to the Worldcoin WLD token).
Tom Lee has been long-term bullish on Ethereum. Last month, he predicted the ETH market bottom at $2,500 and forecasted a rebound to the $7,000–$9,000 range by the end of January 2025. Recently, on the Farokh Radio podcast, Lee further emphasized: “We believe Ethereum has bottomed out; compared to two weeks ago, the amount of ETH we’ve purchased has doubled.”
On the macro front, the Federal Reserve announced a 25 basis point rate cut on Wednesday, but Chairman Powell’s hawkish signals caused market unease, leading to divergence between cryptocurrencies and equities. Bitcoin and Ethereum both declined, with ETH currently at $3,186, down 4.29% over 24 hours.
Before Powell’s speech, Tom Lee told CNBC that even if the Federal Reserve maintains a hawkish stance, the crypto market will trend reversal in early 2026. He believes two factors are crucial: first, the new Fed chair’s appointment will bring more dovish policies; second, the US ISM index returning above 50 indicates economic expansion, and historically, an ISM rebound usually corresponds with cryptocurrencies entering a “super cycle.”
Currently, Bitcoin is trading at $90,028, down 2.82% over 24 hours; Ethereum has fallen more sharply. However, institutional accumulation and macro indicators’ improvement provide potential support for ETH’s medium- and long-term trend. (The Block)
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Tom Lee’s BitMine Acquires 60,976 ETH, Holdings Now $10.3B
Bitmine Immersion Technologies reports total assets of $10.3 billion, including 4.53M ETH. With 3.04M ETH staked, it generates $174M annually at a 2.91% yield. The firm seeks to reach 5% of total ETH supply and is expanding its staking infrastructure.
CryptoFrontNews16m ago
ETH 15-minute increase of 1.02%: Ecosystem upgrade expectations resonate with active buying, driving the rally
From 14:30 to 14:45 (UTC) on March 10, 2026, ETH recorded a short-term gain of +1.02%, with the price rising from 2024.3 USDT to 2047.18 USDT, an amplitude of 1.13%. Trading volume during this period significantly increased, with active addresses rising from 12,800 to 15,600, and large on-chain transfers up by 30.2%, reflecting a notable increase in market attention and volatility.
The main driver of this movement is the Ethereum "Verde" technical upgrade testnet news.
GateNews1h ago
Whale pension-usdt.eth recently opened a long position. CL still holds 1,000 BTC and a threefold short position.
Gate News Report, March 10 — According to Onchain Lens monitoring, the whale address pension-usdt.eth, which previously made huge profits on BTC and ETH, recently opened a 2x leveraged CL long position on Hyperliquid. Meanwhile, the address still holds a 3x leveraged short position in BTC, totaling 1,000 BTC, with a nominal value of approximately $69.89 million, currently with an unrealized loss of about $1 million.
GateNews1h ago
