BitMine Allocates $70M to Ethereum Amid Market Downturn

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

ETH-1.214%

IP-6.85%

Source: Coinmarketcap

Updated: Dec 02 2025

BitMine's Ethereum Acquisition: BitMine has invested nearly $70 million to acquire 23,773 ETH, aiming to control 5% of the global Ethereum supply, despite the current bear market.
Comparison to Bitcoin's Growth: Tom Lee, president of BitMine, suggests that Ethereum may experience a supercycle similar to Bitcoin's explosive growth in 2017, indicating potential for significant returns.
Market Conditions and Institutional Hesitance: The Ethereum blockchain continues to attract smart contract projects, but regulatory uncertainties are hindering institutional investment, leading to a lack of liquidity in the market.
BitMine's Strategic Positioning: By aggressively accumulating Ethereum during a downturn, BitMine positions itself as a key player in the decentralized finance (DeFi) space, potentially influencing future market trends.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

BitMine Allocates $70M to Ethereum Amid Market Downturn

About the author

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