BitMine, led by Wall Street strategist Tom Lee, has significantly expanded its Ethereum holdings with new multimillion-dollar investments, signaling robust institutional confidence despite a recent dip in its overall portfolio value.
The cryptocurrency investment firm added $294 million in Ethereum, equivalent to 82,353 units, at an average price of $3,909 per coin during the past week. This latest acquisition brings BitMine’s total holdings to 3,395,422 ETH, representing over 2.8% of Ethereum’s circulating supply.
Lee maintains an optimistic outlook for the market, forecasting Ethereum could reach $7,000 and Bitcoin could hit $150,000 to $200,000 before the end of the year. He describes a recent $19.16 billion global market liquidation as a “minor rupture” within a larger stabilization process.
BitMine’s aggressive accumulation strategy reinforces institutional belief in Ethereum, even as its overall portfolio value saw a reduction. Data from Arkham Intelligence shows the firm’s total holdings fell by $2.03 billion, from $12.43 billion on October 30, 2025, to $10.41 billion on November 6, 2025.
Despite this weekly decline in total value, BitMine’s portfolio maintains a positive monthly return of 3.36%. Lee highlights Ethereum’s strong fundamentals, noting stablecoin volume and application revenue are at all-time highs.
🚨 BitMine increases its ETH reserve by USD $137 million 🚨
The company acquired more than 40,000 ETH in a week.
This move reinforces institutional confidence in Ethereum.
Tom Lee anticipates that ETH could reach USD $7,000 before the end of the year.
Despite the…— Diario฿itcoin (@DiarioBitcoin) November 7, 2023
Blockchain data shows BitMine recently acquired 40,718 ETH, valued at nearly $137 million, contributing to its growing Ethereum reserves. This specific batch included significant transfers from institutional platforms.
In the past 24 hours, BitMine received over 19,000 ETH, approximately $69.89 million, through two large transfers from Coinbase Prime and FalconX. Six days prior, Galaxy Digital transferred over 6,000 ETH, valued at $29.28 million, to BitMine’s wallets.
BitMine consistently employs an aggressive investment strategy focused on digital assets, particularly Ethereum. Its movements are seen as a clear signal of renewed institutional trust in the cryptocurrency amidst a recovering market.
According to Arkham, BitMine’s withdrawals from exchanges total $12.83 billion. FalconX accounts for the largest share at 46% ($5.85 billion), followed by Kraken ($2.64 billion), BitGo ($2.50 billion), and Galaxy Digital ($1.79 billion). Coinbase Prime represented a smaller fraction at $47.17 million.
BitMine is also among the most actively traded stocks in the United States. Data from Fundstrat indicates its average daily trading volume reached $1.5 billion during the week of October 24, 2025. This high liquidity continues to attract major institutional funds.
Alongside Strategy (MSTR), BitMine accounts for 88% of the total trading volume for crypto-associated companies globally. BitMine’s share in this volume increased from 31% to 33% in the last month, solidifying its influence as a primary vehicle for institutional exposure to the digital asset market.