BitMine strikes again! They invested $417 million to increase their holdings by 104,000 Ether, with Chairman Tom Lee boldly claiming ETH will reach $12,000 by the end of the year.

BitMine Immersion Technologies significantly increased its holdings by 104,336 Ethereum on Thursday, valued at approximately $417 million, aiming to further consolidate its encryption reserves. This brings the company's total holdings to around 3.03 million Ethereum, with a total value of about $12.2 billion. BitMine Chairman Tom Lee is a staunch bullish advocate, who recently predicted on his podcast that Ethereum will reach between $10,000 and $12,000 by the end of the year, stating that the upcoming pump is “real price discovery.” This positive purchasing strategy occurs at a critical moment as the market awaits the Fed's interest rate cuts and accelerated institutional adoption.

BitMine Huge Purchase: Driving ETH Total Holdings Towards $122 Billion

BitMine's recent accumulation actions highlight its ambition to accelerate the achievement of its goal of holding 5% of the total supply of Ethereum and have become a focal point for market attention.

· $417 million massive transaction

According to data extracted from the Arkham platform by Lookonchain, BitMine Immersion Technologies purchased 104,336 Ether through seven transactions from two wallets associated with mainstream CEX and BitGo.

Although BitMine has not publicly confirmed this move, with this latest acquisition, the company's Ethereum holdings have increased to approximately 3.03 million coins, worth about $12.2 billion.

· Consolidate the role of ETH in the capital market

This growing position supports BitMine's mission to accumulate 5% of the total supply of Ether, while strengthening Ethereum's role in the capital markets.

Previously, the company spent over 827 million dollars to acquire Ethereum during a significant downturn in the encryption market, seizing the demand amid panic selling and the liquidation of 19 billion dollars in leveraged positions over the weekend.

Chairman Tom Lee's Bold Prediction: $12,000 is the True Price Discovery

BitMine's aggressive buying strategy aligns with its chairman's extremely bullish stance on Ethereum, injecting new confidence into the current market.

· Year-end target range

BitMine Chairman Tom Lee has long been a bullish advocate for cryptocurrency, openly expressing his price expectations for Bitcoin and Ethereum.

In a recent podcast, he stated that he believes Ethereum will reach $10,000 to $12,000 by the end of the year, and described the upcoming rebound as “real price discovery,” rather than just a speculative surge.

· Potential market catalysts

Lee and other market observers pointed out that the potential interest rate cuts by the Fed, the growth of institutional adoption, and clearer regulations are all potential catalysts that could drive further rise in cryptocurrencies.

Market Dynamics and Institutional Interest: ETH is undergoing tests of volatility and underlying demand

Despite the pressure from macro factors, Ethereum's performance over the past year indicates that it has strong underlying demand and resilience.

· Price volatility and long-term rise

The latest trading price of Ethereum is $4023, down 2.1% for the day, still feeling the pressure from market volatility.

Nevertheless, in the past year, Ethereum has risen nearly 55%, which indicates its volatility and potential demand coexist.

· The rise of enterprise digital asset vaults

BitMine's aggressive purchasing strategy reflects the growing interest of companies in digital asset vaults. As more and more companies adopt a strategy of accumulating Ethereum for diversification and hedging, the impact on supply dynamics and market psychology could be substantial.

The actions of BitMine have become a signal in the market, reminding people that the aggregate large demand can change the market narrative just like a price chart.

Conclusion

BitMine Immersion Technologies has once again increased its holdings in Ether with a substantial investment of hundreds of millions of dollars, bringing its total holding value to over 12.2 billion dollars. This action, combined with Chairman Tom Lee's firm prediction of a year-end target price of 10,000 to 12,000 dollars, has brought new optimism to the market. Against the backdrop of accelerated institutional adoption and improving regulatory prospects, the large-scale accumulation by BitMine and its peers is significantly reducing the circulating supply of Ether, and serves as a strong narrative driver that continues to reinforce Ether's role as a key asset in the capital markets.

This article is for news information only and does not constitute any investment advice. The crypto market is highly volatile, and investors should make decisions with caution.