Tom Lee’s Ether treasury has been aggressively buying the dip since the market crash earlier this month.
BitMine Immersion Technologies has made its fourth purchase of Ether since the record influx of liquidity on October 10.
The company secured $250 million in ETH from Bitgo and Kraken on Monday, According to to Arkham Intelligence which said “These accounts match Bitmine’s previous acquisition pattern.”
“Will Tom Lee stop buying?”
3.2 million ETH holding
Wallets purchased 63,538 ETH this week and 379,271 ETH last week. This brings the total to 442,809 Ethereum, worth approximately $1.74 billion at current prices, purchased since the market crash.
This is aggressive Buy dipwhich were not replicated by Bitcoin vaults, pushed BitMine’s total to around 3.17 million ETH, but the company has yet to officially confirm the latest purchases.
This would give it about 2.6% of the total supply of the asset, and more than 50% towards its target of 5%.
🚀 From 163,000 ETH to 3.24 million ETH in just 3 months. 🤯
Bitmine’s backlog is historic, week after week, they load bags without stopping:
July 14 – 163 thousand
August 10 – 1.15 p.m
September 14 – 2.15 minutes
October 19 — 3.24 million 🔥At this pace, they are on their way to controlling 5% of everyone $ Ethereum in… pic.twitter.com/skfLh9vQAi
– BmNRBullz (@BMNRBullz) October 20, 2025
BitMine CEO Tom Lee is confident that this is not the top of the cryptocurrency cycle. “So I think we’re downstairs and working our way back,” he told CNBC on Friday.
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Lee also did it recently male BitMine is preparing to roll out its staking solution on Ethereum very soon.
Coinbase is also bullish on the Q4 momentum of cryptocurrency markets and the impact of digital asset vaults (DATs).
“Given the supply and demand picture, it is difficult to overstate the impact that digital asset treasury companies have had on the markets this year.” books David Dong, head of research at Coinbase Institutional, in a recent research paper.
Ether prices decline
The same cryptocurrency market pattern is emerging daily: Asia pumps Markets are buying, and America is pulling back selling, preventing any sustained upward momentum.
As a result, Ether prices fell back below $4,000 again. ETH reached an intraday high of $4,080 in early trading on Monday, but sustained selling pressure in the US time zone pushed it lower to $3,940 where it is currently trading.
The asset has only seen a marginal recovery from the double-digit dip seen in October and needs to cross and stay above $4,000 to see any real progress.
The weekly chart of Ethereum is a “brutal action load” with a double retest of the Exponential Moving Average, Notice Analyst “Merlijn the Trader” added that he pumped 70% the last time this was seen.
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