- Ethereum holds above $4,100 following an $84 million purchase by BitMine Immersion.
- The company now owns over 2.15 million ETH, totaling 2% of Ethereum’s circulating supply.
- BitMine raised $365.24 million through a registered direct offering for further Ethereum acquisitions.
- BitMine CEO Tom Lee projects strong growth, with a potential Ethereum price target of $12,000–$15,000 by year’s end.
- Industry analysts also forecast increased institutional adoption and price targets up to $7,500 in the next bull cycle.
Ethereum remains above the $4,100 price level after BitMine Immersion completed an $84 million acquisition of the cryptocurrency. The company added 18,730 ETH to its holdings in the last 24 hours, bringing BitMine’s total Ethereum holdings to over 2.15 million coins, or roughly 2% of the circulating supply.
The acquisition follows a $365.24 million registered direct offering, in which BitMine sold 5.22 million shares at $70 each. The company stated these funds will be used for new Ethereum purchases, potentially increasing buying pressure and affecting future ETH prices. BitMine’s total crypto assets now stand at $11.4 billion.
Tom Lee, CEO of BitMine, said in an interview that he sees strong growth potential for Ethereum. Lee stated, “So when I look at that, combined with agentic AI and robots that are really gonna create the need for a token economy for robots, a lot of that will happen on Ethereum. In fact, President Trump today just talked about how he needs proof-of-human to protect us, and a lot of that work is going to be done on Ethereum.” He also noted increased support for Ethereum from U.S. government institutions under current policies.
According to market analysts, Ethereum faces price resistance at $4,502, but projections remain bullish due to increasing institutional interest. Standard Chartered recently raised its price target, supported by signs of strong corporate ETH accumulation and improvement in Ethereum’s underlying network metrics. Multiple forecasts indicate that Ethereum could rise to between $6,500 and $7,500 during the next market upswing.
More information about the share offering and ETH acquisition can be found in BitMine’s official announcement. For details on BitMine’s growing Ethereum portfolio, see this press release.
Technical milestones and new institutional allocations continue to shape price expectations for Ethereum. Some analysts maintain that maximum price targets near $12,000 remain plausible, depending on overall market performance and continued investment.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Institutions Buy Billions in MSTR as Stock Drops 38% From High
- FTT Token Surges 24% After Jailed SBF’s Account Posts “gm”
- Wall Street Upgrades Amazon Stock Despite AI Concerns, Shares Dip
- ASTER Hits All-Time High as Binance Listing Fuels DeFi Rivalry
- Jiuzi Holdings Plans $1B Crypto Bet Despite Less Than $1M Cash
