Ethereum Latest Updates: BitMine Commits $12 Billion to ETH—Chairman Predicts $12,000 Despite 13% Market Drop

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Ethereum Latest Updates: BitMine Commits $12 Billion to ETH—Chairman Predicts $12,000 Despite 13% Market Drop

Bitget-RWA2025/11/14 10:08

By:Bitget-RWA

- BitMine Immersion Technologies (BMNR) surged ETH purchases by 34% to 110,288 tokens weekly, now holding 3.5M ETH (2.9% supply) valued at $12.76B. - Leadership overhaul appoints Chi Tsang as CEO, aligning with chairman Tom Lee's "supercycle" vision and $12K ETH price target by 2025. - Market reacts mixed as ETH dips 13.4% in two weeks, with treasury buys currently underwater and regulatory shifts like CFTC oversight emerging. - Shareholders demand transparency amid unstaked ETH holdings and evolving crypt

BitMine Immersion Technologies (NYSE: BMNR) is ramping up its

Ethereum

(ETH) accumulation efforts following a major leadership shakeup, acquiring 110,288 ETH during the week ending Nov. 10—a 34% increase compared to the previous week. The company’s ETH reserves now stand at 3.5 million, representing 2.9% of the circulating supply, with an estimated value of $12.76 billion at current market rates

according to Cointelegraph

. This acquisition solidifies

BitMine

as the largest ETH treasury holder globally,

second only to Strategy Inc.’s Bitcoin-focused assets

This aggressive accumulation comes in the wake of a broader downturn in the market, with ETH trading at $3,561—a 13.4% drop over two weeks. BitMine’s chairman, Tom Lee, described the price decline as a strategic chance to strengthen the company’s position ahead of a possible “supercycle” for Ethereum in the coming decade. “

Wall Street is showing strong interest in moving assets onto the blockchain

,” Lee commented. His positive outlook is supported by a forecast that ETH could reach $10,000–$12,000 by the end of 2025, though

current ETH prices would need to rise 180%

to hit that mark.

Ethereum Latest Updates: BitMine Commits $12 Billion to ETH—Chairman Predicts $12,000 Despite 13% Market Drop image 0

BitMine’s treasury approach is supported by institutional investors such as ARK’s Cathie Wood, Founders Fund, and Galaxy Digital. The company’s goal is to control 5% of all ETH in circulation—a milestone it says it is

halfway to reaching

. Financial disclosures reflect this ambition: BitMine reported $398 million in unrestricted cash and a combined cash and crypto balance of $13.2 billion,

which includes a $61 million investment in Eightco Holdings

The shift toward Ethereum comes alongside changes in corporate leadership. On Nov. 14, BitMine named Chi Tsang as CEO and added three independent directors: Robert Sechan (NewEdge Capital), Jason Edgeworth (JPD Family Holdings), and Olivia Howe (RigUp). Tsang, who has a background in technology and DeFi, highlighted BitMine’s function as a link between conventional finance and the Ethereum network. “

With its significant Ethereum reserves and established reputation

,” he stated.

Market response to these developments has been varied. BitMine’s stock has climbed 400% this year to $41.15, but its latest ETH acquisitions are facing

short-term valuation pressures

. The company’s treasury is currently at a loss, as recent ETH purchases were made at $3,639–$3,903 per token, above the current $3,561 price. At the same time,

the wider crypto market continues to face headwinds

Regulatory shifts could also impact BitMine’s future.

A bipartisan proposal in the Senate would give the CFTC authority

over crypto spot markets, aiming to address regulatory gaps and enhance consumer protections. Such regulatory clarity could

increase institutional trust in digital assets

, supporting BitMine’s vision of Ethereum as a core platform for tokenized finance.

As BitMine pursues its “alchemy of 5%” ETH acquisition strategy, the company is facing

questions about its choice to leave its ETH unstaked

—a contrast to competitors like SharpLink Gaming, which stakes all its holdings for yield. Investors have requested more clarity on net asset value reporting,

a complex issue as the company adapts to changing crypto accounting rules

With its treasury strategy and leadership team evolving, BitMine’s next steps will be watched closely by both the crypto sector and traditional investors. The company’s ability to combine rapid ETH accumulation with operational effectiveness—and to leverage Ethereum’s long-term promise—will be key to its influence on corporate treasury management in the digital era.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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