BitMine’s massive purchase and a string of public warnings have left markets watching Ethereum intently this week. Big strikes had been made in the course of the sell-off, and companies and traders are actually weighing whether or not these buys imply confidence or just a wager on a rebound.
Large Scale Accumulation Continues
According to onchain data from Arkham Intelligence and the tracker ‘BMNR Bullz’, BitMine Immersion Technologies purchased a complete of 379,271 ETH in three separate purchases: 202,037 ETH after the weekend crash, 104,336 ETH on Thursday, and 72,898 ETH on Saturday.
Reports have disclosed the haul is value nearly $1.5 billion. The purchases haven’t been formally confirmed by BitMine, however the transfers had been seen on public ledgers.
BitMine’s Position And Timing
BitMine is reported to carry greater than 3 million ETH, which equates to about 2.5% of your complete provide, and that stash was valued at roughly $11.7 billion at current costs.
🚨 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 crashTom Lee wasn’t joking when he mentioned… pic.twitter.com/oiyhLO79wk
— BMNR Bullz (@BMNRBullz) October 18, 2025
Based on reviews, the agency has set a purpose of reaching 5% of provide and solely started constructing the treasury in early July when Ether was close to $2,500.
Tom Lee of Fundstrat has additionally been shopping for — he mentioned he bought $1.5 billion value of Ether because the market crash — signaling that some massive gamers see long-term upside.
Questions Raised About DAT Pricing
Reports say Lee warned that the hype round digital asset treasuries, or DATs, could also be fading, with many DATs buying and selling at or beneath their web asset worth (NAV).
Research agency 10x Research reported that a number of main DATs had been close to or beneath NAV. That has led traders to ask whether or not the buying and selling reductions replicate lasting bother or a short market reset.
Huobi founder Li Lin is reportedly elevating about $1 billion to place into an Ether treasury, which reveals some companies nonetheless need publicity regardless of a budget buying and selling ranges.
Bullish Views Meet Market Stress
According to Lee, Ethereum might “flip” Bitcoin in a approach he in comparison with how Wall Street and equities overtook gold after 1971. He additionally warned traders are nonetheless “licking their wounds” from a document leverage flush.
Markets are down 15% from the October 7 excessive, whereas gold has eased about 3% from its peak. Those strikes are shaping the place huge holders place their bets.
Over the weekend I witnessed one thing each crypto investor ought to take note of. Ethereum, the biggest blockchain on the planet, received congested and charges skyrocketed previous $1,000 simply to course of small transactions. That’s like paying a thousand-dollar toll to drive on a one-lane… pic.twitter.com/m9o1sRUQE0
— Kevin O’Leary aka Mr. Wonderful (@kevinolearytv) October 16, 2025
Network Strain
Meanwhile, primarily based on social posts and blockchain information, Kevin O’Leary sounded the alarm about congestion on Ethereum after charges spiked in the course of the sell-off.
He wrote that easy transactions briefly carried charges of as a lot as $1,000, calling consideration to limits in dealing with sudden demand.
Etherscan information confirmed common each day fuel costs hit a nine-month excessive final Friday, which was confirmed by market trackers.
Featured picture from Unsplash, chart from TradingView
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