Bitmine Immersion Applied sciences chairman Tom Lee says the crypto treasury firm took benefit of a current Ether value drop beneath $2,200 to scoop up one other 71,672 Ether for its stockpile.
Ether (ETH) has traded between $2,081 and $2,341 over the previous seven days. It was buying and selling at $2,128 as of Tuesday and was down 8.7% over the identical interval.
“Over the previous week, we acquired 71,672 ETH. We view the current pullback of ETH to under $2,200 as a pretty alternative. Bitmine is anticipated to attain the alchemy of 5% someday in 2026,” Lee said on Monday.
Bitmine is the most important Ether treasury firm and has persistently purchased the token, even throughout market downturns, in a enterprise mannequin comparable to Michael Saylor’s Bitcoin treasury agency, Technique.
Bitmine’s whole treasury holdings stand at greater than 5.2 million, with the corporate’s final objective to maintain 5% of the token’s circulating provide of 120.7 million. To hit its goal of over 6 million Ether, Bitmine wants round 756,538 extra. It bought 26,659 Ether between Could 4 and Could 11, breaking its three-week streak of including greater than 100,000 Ether per week.
It comes amid stories that an Ethereum whale who beforehand cashed out their Ether additionally purchased the dip over the weekend, making a return to the asset.
Blockchain analytics platform Lookonchain said in an X submit Saturday {that a} whale who purchased Ether greater than a decade in the past and offered their holdings a yr in the past has began shopping for once more.
Supply: Lookonchain
The OG whale bought 1,951 Ether at $2,182, and Lookonchain speculated “he might hold shopping for.”
Ether beneath strain amid Center East battle
Lee said Monday that rising oil prices, which soared after the battle within the Center East escalated earlier this yr, have been a constant drag on Ether’s value. He predicted {that a} reversal in oil costs may lead to Ether recovering.
Ether reached an all-time excessive of $4,946 in August 2025 however has since fallen about 57%. Analysts have predicted the token might nonetheless rise earlier than the tip of the yr.
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Monetary establishment Citigroup predicted in March that Ether might attain $3,175 within the subsequent 12 months. In a bull case, nonetheless, it might hit $4,488, pushed by stablecoin and tokenization curiosity and utilization.
In the meantime, CoinGecko, citing prediction market knowledge, speculated that Ether has a 48% probability of ending the yr at $1,500 and a 25% probability of ending the yr at $3,500.
Earlier this yr, banking big Normal Chartered had a extra bullish outlook. Geoffrey Kendrick, the financial institution’s head of digital property analysis, mentioned in a January report that Ether might hit $7,500 by the tip of the yr, pushed by rising adoption of blockchains and onchain merchandise.
Journal: Guide to the top and emerging global crypto hubs — Mid-2026
