BitMine Buys The Dip Again, Has Added $1.48B ETH Since Crash

BitMine, the world’s largest company holder of Ethereum, purchased one other $281 million price of ETH yesterday, lifting its complete 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 complete of 379,271 ETH in three separate buys for the reason that document $19 billion in liquidations throughout 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) throughout 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 stated… 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 latest purchases, has round 3.03 million ETH on its stability sheet price $11.84 billion, in accordance to knowledge from StrategicETHReserve. 

That was as the biggest altcoin by market cap dipped to as little as $3,854.65 throughout the previous day of buying and selling. It has since recovered to commerce at $3,898.04 as of 1:51 a.m. EST, knowledge from CoinMarketCap exhibits. 

ETH value (Supply: CoinMarketCap)

DAT Treasury Bubble Might Have Burst

BitMine’s continued ETH accumulation comes even after the agency’s chairman, Tom Lee, stated the bubble round digital asset treasury (DAT) companies might have burst. 

In accordance to Lee, many DAT companies are actually buying and selling beneath their internet asset values (NAVs).

BitMine itself has seen its share value commerce in a continued downtrend because the preliminary euphoria round its Ethereum treasury pivot, which noticed its inventory soar greater than 633% prior to now six months, begins to chill.

Prior to now month, nevertheless, BitMine’s shares have slid over 18%, in response to Google Finance. 

BitMine share value (Supply: Google Finance)

A lot of these losses have been recorded prior to now week, when its share value slumped over 7%.

Lee Says ETH Might Flip BTC

The newest purchases additionally come throughout the identical week that Lee predicted Ethereum will finally change into the biggest crypto by market cap.

“Ethereum might flip Bitcoin just like how Wall Road and equities flipped gold publish 71,” Lee stated in a latest interview with ARK Make investments’s CEO Cathie Wooden.

Lee then stated that the rise within the quantity of US {dollars} which can be shifting onto the blockchain may benefit ETH’s value. 

Ethereum at present has a 53.7% share of the $304.492 billion stablecoin market, in accordance to DefiLlama. 

Lee pointed to how the US greenback grew to become the dominant forex globally after US President Richard Nixon took the forex off of the gold normal in 1971 and establishments began constructing merchandise across the forex.

“Greenback dominance goes to be the chance of Ethereum,” Lee stated, including that every part is turning into tokenized. 

Bitcoin at present has a market capitalization of greater than $2.131 trillion, knowledge from CoinMarketCap exhibits, whereas Ethereum’s stands at $470.6 billion. 

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