BitMine, the crypto-focused treasury firm led by strategist Tom Lee, has drastically intensified its Ethereum accumulation strategy by adding another 150 million dollars in Ether to its balance sheet. According to on-chain data revealed Wednesday by analytics platform Arkham, the company received massive fund inflows, marking one of the largest single entries into a corporate treasury this year. This bold move reaffirms the company’s conviction in the digital asset, just as the market anticipates significant structural changes.
Technical data detailed by Arkham shows the company specifically received 18,345 ETH via custodian BitGo and another 30,278 ETH through the Kraken exchange. Although BitMine has not yet issued a formal confirmation of these specific transfers, the wallet movement patterns align perfectly with its recent buying behavior. This acquisition adds to a steady buying streak throughout 2025, even capitalizing on the market pullback in November, where the firm snapped up nearly 97,000 units in a single week. Thus, the company has managed to lift its holdings to control over 3% of the network’s total circulating supply, approaching its declared ambitious target of 5%.
On the other hand, this aggressive maneuver contrasts notably with the general trend of other digital asset treasuries, which have slowed their buying pace. Figures from Bitwise indicate that corporate acquisitions fell 81% in November from the August peak. However, Tom Lee justifies this divergence citing fundamental catalysts like the network’s “Fusaka” upgrade and the expectation of a shift in Federal Reserve monetary policy. Lee maintains that recent price weakness reflects doubt rather than deterioration, comparing the current situation to Bitcoin’s scenario in 2017, a period of volatility that preceded a historic rally of 100 times its value.
Is the vision of an Ether “supercycle” underestimated by current market consensus?
Likewise, the appointment of Chi Tsang as the new chief executive officer underscores BitMine’s intention to professionalize its management and build bridges with traditional finance. Tsang, who replaces Jonathan Bates, assumes leadership at a critical moment, with the mission of positioning the firm as a leading financial institution leveraging its substantial holdings and credibility in the ecosystem. Management has framed Ether not just as a store of value, but as core infrastructure for future financial markets, betting that institutional Ethereum accumulation will validate its long-term investment thesis.
Finally, BitMine’s outlook suggests we are in the early stages of an explosive expansion driven by utility and adoption. While the market digests short-term volatility, the firm keeps its course steady, using its capital to absorb available supply and strengthen its dominant position. The combination of technical network improvements and a more favorable macroeconomic environment is expected to act as fuel for this “supercycle,” where strategic patience could yield extraordinary fruits for those who maintain conviction.
