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BitMine, the world’s largest company holder of Ethereum, purchased one other $281 million price of ETH yesterday, lifting its complete purchases to $1.48 billion because the flash crash on Oct. 10.
In accordance to the X account “BMNR Bullz,” BitMine purchased one other 72,898 ETH for $281 million yesterday, and a complete of 379,271 ETH in three separate buys because the document $19 billion in liquidations through the crash earlier this month.
🚨 MASSIVE ETHEREUM ACCUMULATION
Bitmine simply went ALL IN on $ETH scooping up a complete of 379,271 ETH ($1.48B) through the dip! 👀
💰 +72,898 ETH ($281M) yesterday’s dip💰 +104,336 ETH ($417M) 3 days in the past💰 +202,037 ETH after the weekend crash
Tom Lee wasn’t joking when he stated… pic.twitter.com/oiyhLO79wk
— BMNR Bullz (@BMNRBullz) October 18, 2025
BitMine purchased 104,336 ETH for round $471 million three days in the past and one other for 202,037 ETH shortly after the market-wide pullback.
BitMine, which has not confirmed the latest purchases, has round 3.03 million ETH on its steadiness sheet price $11.84 billion, in accordance to knowledge from StrategicETHReserve.
That was as the biggest altcoin by market cap dipped to as little as $3,854.65 through the previous day of buying and selling. It has since recovered to commerce at $3,898.04 as of 1:51 a.m. EST, knowledge from CoinMarketCap reveals.
ETH worth (Supply: CoinMarketCap)
DAT Treasury Bubble Could Have Burst
BitMine’s continued ETH accumulation comes even after the agency’s chairman, Tom Lee, stated the bubble round digital asset treasury (DAT) corporations could have burst.
In accordance to Lee, many DAT corporations are actually buying and selling beneath their web asset values (NAVs).
BitMine itself has seen its share worth commerce in a continued downtrend because the preliminary euphoria round its Ethereum treasury pivot, which noticed its inventory soar greater than 633% up to now six months, begins to chill.
Up to now month, nonetheless, BitMine’s shares have slid over 18%, in response to Google Finance.
BitMine share worth (Supply: Google Finance)
A lot of these losses have been recorded up to now week, when its share worth slumped over 7%.
Lee Says ETH May Flip BTC
The most recent purchases additionally come throughout the identical week that Lee predicted Ethereum will ultimately turn out to be the biggest crypto by market cap.
“Ethereum might flip Bitcoin just like how Wall Road and equities flipped gold submit 71,” Lee stated in a latest interview with ARK Make investments’s CEO Cathie Wooden.
Lee then stated that the rise within the quantity of US {dollars} which can be transferring onto the blockchain may benefit ETH’s worth.
Ethereum at the moment has a 53.7% share of the $304.492 billion stablecoin market, in accordance to DefiLlama.
Lee pointed to how the US greenback turned the dominant forex globally after US President Richard Nixon took the forex off of the gold commonplace in 1971 and establishments began constructing merchandise across the forex.
“Greenback dominance goes to be the chance of Ethereum,” Lee stated, including that all the things is changing into tokenized.
Bitcoin at the moment has a market capitalization of greater than $2.131 trillion, knowledge from CoinMarketCap reveals, whereas Ethereum’s stands at $470.6 billion.
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