Ethereum Latest Updates: BitMine Commits $12 Billion to ETH—Chairman Predicts $12,000 Despite 13% Market Drop
- 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
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. “
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. “
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
Regulatory shifts could also impact BitMine’s future.
As BitMine pursues its “alchemy of 5%” ETH acquisition strategy, the company is facing
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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