BitMine Expands Ethereum Holdings with $417M Purchase
Highlights:
- BitMine adds 104,000 ETH and boosts its total holdings to 3.03 million.
- The company now controls half of the Ethereum held by public corporate treasuries.
- Experts and Kiyosaki view Ethereum as a strong, valuable asset for investors.
BitMine Immersion Technologies boosted its Ethereum reserves on Thursday, acquiring 104,336 ETH valued at approximately $417 million. This strategic purchase further strengthens the company’s crypto portfolio and solidifies its position as the largest public Ethereum holder.
BitMine Adds Millions of Ethereum
According to on-chain data from Lookonchain, using information from Arkham, the ETH was transferred to three new wallets through seven transactions from two wallets linked to Kraken and BitGo. BitMine has not yet publicly confirmed the purchase. Following its latest acquisition, BitMine now owns over 3.03 million Ethereum, worth roughly $12.2 billion. The company added over 300,000 ETH in just the past week and took advantage of recent price dips.
It looks like Bitmine(@BitMNR) just bought another 104,336 $ETH($417M).
Over the past 7 hours, 3 new wallets received 104,336 $ETH($417M) from #Kraken and #BitGo.
Despite the crypto market crash, Tom Lee still predicts $ETH will hit $10K by year-end.https://t.co/KewyZ4cAeP… pic.twitter.com/Vn5b9ijP2Z
— Lookonchain (@lookonchain) October 16, 2025
BitMine has now reached 50% of its treasury goal, holding 3 million ETH, about 2.5% of the total supply. Its holdings make up half of all Ethereum owned by public corporate treasuries, which total 5.9 million ETH, valued at $23.7 billion, according to StrategicEthReserve. BitMine wants to be a major player in the Ethereum network. It sees ETH as an important asset for institutions.
BitMine’s dip buying comes as Ethereum continues to trend lower. ETH dropped to $3,945 on Wednesday, down 20% from its August all-time high of $4,946. At the time of writing, it had recovered slightly, trading just above the $4,000 level.
Ethereum Price Eyes $10K–$12K
The recent purchase comes after CEO Tom Lee recently predicted in a podcast that Ethereum could reach $10,000–$12,000 by the end of 2025. He described Ethereum as a “neutral chain” favored by Wall Street, due to its decentralized design, growing institutional adoption, and role in government token projects. To hit Lee’s $10,000 target, Ethereum must rise by over 150% from current prices.
Lee is not the only one bullish on Ethereum. Many experts expect ETH to start rising again in the next few months. Analyst “Rekt Fencer” said ETH is following BTC’s 2020–2021 rally. He believes $15,000 for ETH is possible this cycle. Another analyst, “Crypto Bullet,” compared Bitcoin’s 2024 chart to Ethereum in 2025. He predicts ETH could reach $6,000–$7,000 this year.
Ethereum is copying Bitcoin’s 2020-2021 run.
$15,000 for $ETH is still on the table this cycle.
Don’t overthink it. pic.twitter.com/jubIUfe2r4
— Rekt Fencer (@rektfencer) October 15, 2025
Kiyosaki Says Ethereum and Silver Are Best Safe Investments
Robert Kiyosaki, author of Rich Dad Poor Dad, recently tweeted that “silver and Ethereum are the best trades today.” Known for promoting financial literacy, he has long called gold, silver, and Bitcoin “real money” and encouraged holding hard assets.
REMINDER: I predicted the biggest crash in world history was coming in my book Rich Dad’s Prophecy. That crash will happen this year.
Baby Boom Retirements are going to be wiped out. Many boomers will be homeless or living in their kids basement. Sad.
REMiNDER: I have…
— Robert Kiyosaki (@theRealKiyosaki) October 11, 2025
In a series of posts on X, Kiyosaki warned that a global financial reset could erase the savings of millions of retirees. He advised moving away from “printed assets” toward tangible value, saying, “Inflation turns savers’ cash into trash.” He highlighted ETH’s dual role as a store of value and a practical asset in the digital economy. “Today I believe silver and Ethereum are the best because they are stores of value…but more importantly….used in industry….and prices are low,” he said.
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Syed Ali Haider
Syed Ali Haider is a contributing crypto writer for Crypto2Community. He is a crypto and blockchain journalist with over six years of experience. Syed Ali is a Blockchain enthusiast and writer passionate about enhancing the acceptance, adoption, and integration of Blockchain technology worldwide. He has also advocated for digital freedom and cybersecurity for many years. Haider has been featured in a number of high-profile crypto and finance outlets, including Coincult and more.
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