Bitmine Doubles Down: World’s Largest Ethereum Treasury Signals Bullish Institutional Bet Amid Market Liquidity Crunch

Bitmine's Great Ethereum Accumulation

Nasdaq-listed Bitmine has added 17,242 ETH for $49 million via OTC desks FalconX and BitGo during the current market correction, bringing its overall holdings to almost 3.6 million ETH—valued at over $10 billion and accounting for around 3% of Ethereum's total supply. With an unambiguous long-term goal of hitting 5% of all supply, Bitmine is now the largest known corporate holder of Ethereum worldwide.

Contrarian Strategy and Funding

Funds for the acquisitions come from a mix of Ethereum staking rewards, current cash reserves, and equity capital raises. While most corporate treasuries remain Bitcoin-centric, Bitmine intentionally regards market downturns as purchasing chances and adheres to a disciplined accumulation strategy centered just on Ethereum.

From Tom Lee: Warning on Market Liquidity

Bitmine's chairman, Tom Lee, attributes the slow price recovery in Bitcoin and Ethereum to long-lasting harm from an October liquidation event that sparked about $20 billion in forced liquidations. Liquidity is limited as significant market makers continue to deleverage and fix balance sheets—a reminder of 2022 circumstances that took 6–8 weeks to return to normal. Notwithstanding near-term pressure, Lee sees Strong institutional confidence from Bitmine's persistent purchasing still looks favorably on a future Ethereum "supercycle" powered by tokenization and Decentralized Finance (DeFi).