--- title: "BitMine accumulates $1.5B in Ether since crash despite Lee’s treasury bubble fears" description: "BitMine Immersion Technologies has acquired $1.5 billion worth of Ether (ETH) since the recent market crash, totaling 379,271 ETH. Despite concerns from Fundstrat's Tom Lee about a potential end to di" type: "news" locale: "en" url: "https://longbridge.com/en/news/261743898.md" published_at: "2025-10-19T05:00:47.000Z" --- # BitMine accumulates $1.5B in Ether since crash despite Lee’s treasury bubble fears > BitMine Immersion Technologies has acquired $1.5 billion worth of Ether (ETH) since the recent market crash, totaling 379,271 ETH. Despite concerns from Fundstrat's Tom Lee about a potential end to digital asset treasury hype, he remains optimistic about Ether's future. BitMine, holding over 3 million ETH, aims for 5% of the total supply. Lee noted that many digital asset treasuries are trading below their net asset value, indicating a possible bubble burst. He believes the crypto market is at a low point and will recover, while gold continues to perform well. Fundstrat’s Tom Lee has echoed the sentiment that digital asset treasury hype may be coming to an end, but remains bullish on Ether, having purchased $1.5 billion worth since the market crash. BitMine Immersion Technologies has scooped up a total of 379,271 Ether (ETH) worth almost $1.5 billion since the record crypto market liquidation event last weekend. The acquisitions came in three separate purchases: 202,037 ETH after the weekend crash, 104,336 ETH on Thursday, and 72,898 ETH on Saturday, according to onchain data from Arkham Intelligence and ‘BMNR Bullz’, which tracks the firm’s purchases. BitMine is the world’s largest Ether treasury company with a stash of more than 3 million ETH, or 2.5% of the entire supply, worth $11.7 billion. It is already halfway toward its target of 5% and has only started accumulating the asset in early July, when ETH was hovering around the $2,500 level. “Ethereum could flip Bitcoin similar to how Wall Street and equities flipped gold post 71,” Lee told ARK Invest CEO Cathie Wood on Thursday. **DAT bubble bursting?** The continued aggressive accumulation of Ether occurs despite Lee’s opinion that the digital asset treasury bubble may have burst. Lee stated that many DATs are trading below their net asset value (NAV), or the worth of their underlying crypto holdings. “If that’s not already a bubble burst… How would that bubble burst?” he told Fortune on Thursday. Research firm 10x Research also reported on Saturday that major DATs such as Metaplanet and Strategy were trading near or below their NAVs. However, this is not all bad news as DATs with strong capital bases and trading-savvy management teams “may still generate meaningful alpha,” they said. Huobi founder Li Lin wants some of that alpha and has reportedly raised about $1 billion as part of a strategy to invest in an Ether treasury. **Gold envy keeping crypto down** Lee told CNBC after the trading day on Friday that investors were still “licking their wounds” from the record leverage flush, but there was also a bit of “gold envy” as the commodity has been a “huge performer this year.” “This is not the top of the crypto cycle, but leveraged longs in crypto are near record lows, so I think \[...\] we’re at the basement and working our way back up.” Crypto markets are currently down 15% from their record high on October 7, while gold prices have retreated almost 3% from their peak on Thursday. ***Magazine:*** Ether’s price to go ‘nuclear,’ Ripple seeks $1B XRP buy: Hodler’s Digest ### Related Stocks - [BMNR.US - BitMine Immersion Tech](https://longbridge.com/en/quote/BMNR.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | EX.IO 發行本港首個鏈上原生代幣化證券 掛鈎可轉換債券 可二級市場交易 | EX.IO 集團宣佈其合規持牌虛擬資產交易平台 EXIO Limited 已正式上架鏈上原生代幣化證券 EXCB25，允許專業投資者在 OTC 頻道進行場外交易及二級市場買賣。EXCB25 為可轉換優先票據的代幣化證券，具備年化票面息率 5 | [Link](https://longbridge.com/en/news/275873188.md) | | 以太坊供應量降至 2017 年以來的低點——這兩個指標顯示需求緊縮 | 以太坊的交易所供應量減少，因為持有者更傾向於長期持有，隨着代幣解鎖的結束，質押的 ETH 達到了創紀錄的 3725 萬，表明市場供應減少。交易所儲備降至 1618 萬 ETH，暗示投資者正在撤回資產。然而，需求依然疲軟，淨流入量波動顯著，在 | [Link](https://longbridge.com/en/news/276067690.md) | | Bitmine 購買了價值 8400 萬美元的 ETH，Tom Lee 稱市場回調是一個 “有吸引力” 的入場點：鏈上數據 | BitMine Immersion Technologies 已購買價值 8360 萬美元的以太坊（ETH），從 FalconX 收購了 20,000 ETH，並從 BitGo 購買了另外 20,000 ETH。這次購買使 Bitmine | [Link](https://longbridge.com/en/news/275393366.md) | | 以太坊 ETF 的資金流入和流出對 ETH 價格的真正影響是什麼 | 以太坊現貨 ETF 的資金流動代表了真實的 ETH 買賣，因為基金在資金流入時必須購買 ETH，而在資金流出時可能會出售 ETH，這直接影響 | [Link](https://longbridge.com/en/news/276005460.md) | | 關鍵事實：以太坊質押需求旺盛；68% 的 DeFi 價值；持有者的承諾度高 | 以太坊質押需求旺盛，目前有 21 天的驗證者排隊和 400 萬 ETH 待處理。超過 30% 的供應量，即約 3670 萬 ETH，已被質押，年收益率為 2.80%。以太坊在去中心化金融（DeFi）中佔據約 68% 的總價值，黑石集團在 U | [Link](https://longbridge.com/en/news/275825721.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.