The largest эфириумBitMine Immersion Technologies, a treasury company led by Tom Lee, took advantage of the Ethereum price dump to buy the cryptocurrency.
On October 20, when the price of ETH was fluctuating between $3,950 and $4,000, BitMine employees withdrew from the exchange Kraken and the BitGo trading platform, 63,539 Ethereums worth $250,81 million. Since these transactions were executed, the value of the digital asset has fallen by approximately 3%, so the firm is likely counting a small unrealized loss.
BitMine’s Ethereum purchases likely occurred late Monday evening.
The company began investing in Ethereum on July 14, 2025, and in just over three months, it has accumulated 3,24 million ETH, worth $12,52 billion at the current exchange rate. The institution already owns 2,68% of the issued digital assets, and if Tom Lee’s subordinates continue to accumulate coins at the same rate, the 5% target will be reached by early 2026.
The fact that BitMine employees bought Ethereum at the local low doesn’t mean they’re confident in a quick market reversal. They’re following the advice of Strategy CEO Michael Saylor and methodically increasing their ETH holdings regardless of market conditions, counting on the cryptocurrency’s long-term price growth.