Tom Lee’s BitMine Continues Massive Ethereum Accumulation, Predicts ETH Rally to $9,000

BitMine Immersion Technologies, chaired by Tom Lee, appears to be aggressively increasing its corporate Ethereum holdings, reportedly adding another large sum despite a recent market downturn.

Massive ETH Acquisition

• On Thursday, BitMine allegedly acquired 14,618 ETH (worth $44.34 million) from BitGo, according to blockchain data reported by Lookonchain.
• Note: This specific transaction has not been officially confirmed by BitMine.
• This potential purchase follows the company’s recent official announcement of buying $200 million worth of Ethereum.
• Current Holdings: As of its last official statement, BitMine holds 3,629,701 ETH (valued around $10.9 billion), representing approximately 3% of the total Ethereum supply.
• Company Goal: BitMine has repeatedly stated its long-term objective is to accumulate 5% of the total Ethereum supply, emphasizing its commitment to supporting Ethereum’s growth in financial market services.

Tom Lee’s Bullish Stance

BitMine Chair Tom Lee is a strong proponent of Ethereum, claiming that financial institutions and the White House will favor it as a “truly neutral chain” for their future blockchain initiatives.

Price Predictions

Despite the recent crypto market slump, Tom Lee made significant bullish predictions:

• Ethereum (ETH): He predicts that ETH will bottom near $2,500 before rising to a price target between $7,000 and $9,000 by the end of January 2026.
• Bitcoin (BTC): Lee also expects Bitcoin to surge above $100,000 or even reach a new high by the end of the year.
• Market Catalyst: Lee attributes his bullish outlook partly to the expectation that the Federal Reserve will turn dovish by the end of the year, providing crucial macroeconomic clarity for traders.