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BitMine, the world’s largest company holder of Ethereum, purchased one other $281 million value of ETH yesterday, lifting its whole purchases to $1.48 billion for the reason that 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 whole of 379,271 ETH in three separate buys for the reason that report $19 billion in liquidations in the course of 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) in the course of 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 mentioned… 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 current purchases, has round 3.03 million ETH on its steadiness sheet value $11.84 billion, in accordance to information from StrategicETHReserve.
That was as the biggest altcoin by market cap dipped to as little as $3,854.65 in the course of the previous day of buying and selling. It has since recovered to commerce at $3,898.04 as of 1:51 a.m. EST, information from CoinMarketCap reveals.
ETH worth (Supply: CoinMarketCap)
DAT Treasury Bubble Might Have Burst
BitMine’s continued ETH accumulation comes even after the agency’s chairman, Tom Lee, mentioned the bubble round digital asset treasury (DAT) corporations might have burst.
In accordance to Lee, many DAT corporations are actually buying and selling under their internet 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% previously six months, begins to chill.
Up to now month, nonetheless, BitMine’s shares have slid over 18%, in accordance with Google Finance.
BitMine share worth (Supply: Google Finance)
A lot of these losses have been recorded previously week, when its share worth slumped over 7%.
Lee Says ETH Might Flip BTC
The newest purchases additionally come throughout the identical week that Lee predicted Ethereum will ultimately turn into the biggest crypto by market cap.
“Ethereum may flip Bitcoin just like how Wall Avenue and equities flipped gold publish 71,” Lee mentioned in a current interview with ARK Make investments’s CEO Cathie Wooden.
Lee then mentioned that the rise within the quantity of US {dollars} which are transferring onto the blockchain may benefit ETH’s worth.
Ethereum presently 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 foreign money globally after US President Richard Nixon took the foreign money off of the gold normal in 1971 and establishments began constructing merchandise across the foreign money.
“Greenback dominance goes to be the chance of Ethereum,” Lee mentioned, including that every part is turning into tokenized.
Bitcoin presently has a market capitalization of greater than $2.131 trillion, information from CoinMarketCap reveals, whereas Ethereum’s stands at $470.6 billion.
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