Tom Lee’s BitMine has purchased another $281 million of ETH, taking the concept of ‘buying the dip’ to a whole new level. When the market sold off, BitMine accumulated. The company’s total Ethereum holdings now exceed 3.03 million ETH, roughly 2.5% of the entire supply, valued at around $12.9 billion.
Exchange reserves have fallen to a three-year low, suggesting that large players continue to hold long-term positions rather than trade short-term volatility. According to on-chain data, cumulative institutional holdings across corporate treasuries and Ethereum ETFs now exceed 12.8 million ETH, over 10% of the total supply.
Tom Lee remains one of the market’s most prominent Ethereum bulls. He recently reaffirmed his prediction that ETH could reach between $12,000 and $15,000 by the end of 2025, citing Ethereum’s expanding role in tokenization, decentralized finance, and AI-driven infrastructure.
“Bitmine bought $279,640,000 in $ETH today. Big players are accumulating Ethereum.”
Behind the numbers, there’s a deeper narrative: institutional actors appear to be positioning for Ethereum’s next growth phase. With stablecoin settlement volumes on Ethereum surpassing $5 trillion in the third quarter (an all-time high), the network’s dominance as a settlement layer remains unchallenged.
For long-term investors like BitMine, this is less about timing the market and more about accumulating the infrastructure layer of a new financial system. In this context, each dip becomes a discount rather than a deterrent.
