{"id":17151,"date":"2025-10-19T20:23:26","date_gmt":"2025-10-19T18:23:26","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=17151"},"modified":"2025-10-19T20:23:26","modified_gmt":"2025-10-19T18:23:26","slug":"bitmines-shopping-frenzy-capitalizing-on-ethereums-downfall-with-1-5b-investment","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/10\/19\/bitmines-shopping-frenzy-capitalizing-on-ethereums-downfall-with-1-5b-investment\/","title":{"rendered":"BitMine’s Shopping Frenzy: Capitalizing on Ethereum’s Downfall with $1.5B Investment"},"content":{"rendered":"

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Trusted Editorial<\/u> material, assessed by leading industry professionals and experienced editors. Ad Disclosure<\/a><\/div>\n<\/p><\/div>\n

BitMine\u2019s significant acquisition and a series of public alerts have left markets observing Ethereum<\/a> intently this week. Considerable actions were taken during the sell-off, and corporations and investors are now contemplating whether those acquisitions indicate assurance or merely a wager on a recovery.<\/p>\n

Widespread Accumulation Persists<\/h2>\n

As per onchain insights<\/a> from Arkham Intelligence and the tracker \u2018BMNR Bullz\u2019, BitMine Immersion Technologies acquired a total of 379,271 ETH through three distinct transactions: 202,037 ETH following the weekend slump, 104,336 ETH on Thursday, and 72,898 ETH on Saturday.<\/p>\n

Reports have indicated that the total haul is valued at nearly $1.5 billion. These acquisitions have not been officially verified by BitMine, but the transactions were traceable on public ledgers.<\/p>\n

BitMine\u2019s Stance And Timing<\/h2>\n

It is reported that BitMine possesses over 3 million ETH, which corresponds to roughly 2.5% of the total supply, and that reserve was estimated at about $11.7 billion at current market rates.<\/p>\n

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\ud83d\udea8 MASSIVE ETHEREUM ACCUMULATION<\/p>\n

Bitmine just went ALL IN on $ETH<\/a> amassing a total of 379,271 ETH ($1.48B) during the downturn! \ud83d\udc40<\/p>\n

\ud83d\udcb0 +72,898 ETH ($281M) from yesterday\u2019s dip
\ud83d\udcb0 +104,336 ETH ($417M) three days ago
\ud83d\udcb0 +202,037 ETH post-weekend crash<\/p>\n

Tom Lee wasn\u2019t kidding when he stated\u2026 pic.twitter.com\/oiyhLO79wk<\/a><\/p>\n

\u2014 BMNR Bullz (@BMNRBullz) October 18, 2025<\/a><\/p>\n<\/blockquote>\n

According to reports, the firm aims to reach 5% of the supply and only commenced building its treasury early in July when Ether hovered around $2,500.<\/p>\n

Tom Lee from Fundstrat has also been accumulating \u2014 he mentioned acquiring $1.5 billion worth of Ether since the market downturn \u2014 indicating that some major players foresee long-term advantages.<\/p>\n

ETHUSD presently trading at $3,917. Chart: TradingView<\/a><\/figcaption><\/figure>\n

Concerns Raised Regarding DAT Pricing<\/h3>\n

Reports suggest Lee cautioned that the excitement surrounding digital asset treasuries, or DATs, might be diminishing, with several DATs trading at or beneath their net asset value (NAV).<\/p>\n

Research firm 10x Research indicated that numerous prominent DATs were trading close to or below NAV. This has prompted investors to inquire whether the trading discounts signify enduring issues or a brief market adjustment.<\/p>\n

Huobi founder Li Lin is said to be raising approximately $1 billion to invest into an Ether treasury, indicating that certain firms still seek exposure despite the low trading prices.<\/p>\n

Optimistic Perspectives Amid Market Pressure<\/h3>\n

Lee indicated that Ethereum could \u201csurpass\u201d Bitcoin in a manner he likened to how Wall Street and equities eclipsed gold after 1971. He also cautioned that investors are still \u201ctending to their wounds\u201d from an unprecedented leverage flush.<\/p>\n

Markets have declined 15% from the high on October 7, while gold has dipped about 3% from its peak. These movements are influencing where significant holders place their investments.<\/p>\n

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Over the weekend, I observed something every crypto investor should take note of. Ethereum, the largest blockchain globally, became congested and fees surged beyond $1,000 just to execute minor transactions. That\u2019s akin to paying a thousand-dollar toll to travel on a one-lane\u2026 pic.twitter.com\/m9o1sRUQE0<\/a><\/p>\n

\u2014 Kevin O\u2019Leary aka Mr. Wonderful (@kevinolearytv) October 16, 2025<\/a><\/p>\n<\/blockquote>\n

Network Stress<\/h3>\n

Meanwhile, based on social media posts and blockchain analytics, Kevin O\u2019Leary raised alarms about congestion on Ethereum after fees escalated during the sell-off.<\/p>\n

He noted that straightforward transactions temporarily incurred fees of up to $1,000, drawing attention to limitations in accommodating sudden demand.<\/p>\n

Etherscan data indicated average daily gas prices reached a nine-month high last Friday, corroborated by market observers.<\/p>\n

Featured image from Unsplash, chart from TradingView<\/em><\/p>\n

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