BitMine continues to demonstrate its strong conviction in Ethereum’s future by acquiring 202,037 ETH during recent market movements. This strategic purchase, valued at approximately $838 million, adds to BitMine’s already substantial position in the cryptocurrency market. Furthermore, this move represents a significant portion of their ongoing accumulation strategy, showcasing growing institutional confidence in Ethereum’s long-term potential.
BitMine(@BitMNR) bought 202,037 $ETH($838M) last week and now holds 3,032,188 $ETH($12.58B).
— Lookonchain (@lookonchain) October 13, 2025
BitMine's total $ETH holdings have surpassed 3 million!https://t.co/BLs8QwrDTY pic.twitter.com/l6cfvNZ8Co
Strategic Accumulation and Market Impact
BitMine’s total Ethereum holdings now exceed 3 million ETH, representing more than 2% of Ethereum’s total supply. This positions the company as one of the largest institutional holders of Ethereum globally. The company executed these purchases through major over-the-counter (OTC) desks and direct transfers from established institutional intermediaries, including Galaxy Digital and FalconX. Additionally, this methodical approach to accumulation helps minimize market impact while building a substantial position.
Institutional Adoption Signals
This latest acquisition arrives amid increasing institutional interest in Ethereum. Major financial institutions continue to recognize Ethereum’s dual utility as both a store of value and a foundational layer for decentralized finance. Moreover, Standard Chartered recently revised its 2025 Ethereum price target to $7,500, citing intensified institutional accumulation and accelerating stablecoin adoption. This adjustment reflects growing confidence in Ethereum’s long-term prospects among traditional financial institutions.
Market Dynamics and Future Outlook
The significant institutional buying activity creates noteworthy supply-side pressure in the Ethereum market. Exchange reserves continue to decrease as large holders move their assets into long-term storage. Furthermore, the combination of reduced circulating supply and increased institutional demand could lead to interesting market dynamics in the coming months. Industry analysts suggest this accumulation trend might continue as more institutions recognize Ethereum’s potential role in their treasury strategies.
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