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Lookonchain reported that three new wallets received ETH via seven transactions originating from two wallets, from Kraken and BitGo. Notably, BitMine has not officially confirmed the purchase as of press time.
BitMine’s Ether Holdings Cross 3 Million
The Tom Lee-chaired Ethereum treasury company has accumulated an eye-watering 3,032,188 ETH, valued at more than $12.2 billion. This stockpile is equivalent to 2.512% of the total supply of the second largest cryptocurrency. BitMine seems unfazed by the recent crypto market chaos, using the opportunity to buy the dips.
“Despite the crypto market crash, Tom Lee still predicts ETH will hit $10,000 by year-end,” Lookonchain noted.
Lee earlier this week doubled down on his $10K price prediction despite the recent volatility, and there being less than three months left on the clock.
 
BitMine’s stash makes it the world’s biggest publicly traded Ethereum treasury firm and the second-largest crypto treasury overall — only trailing Michael Saylor’s Bitcoin giant, Strategy, which holds over $73 billion worth of BTC.
The firm’s latest purchase pushes it more than half way to its telegraphed goal to acquire 5% of all ETH on the market.
Buying The Dip
BitMine bought the dip earlier this week following the crypto market flash crash last Friday after President Trump threatened severe new trade tariffs on China. On Monday, the firm revealed that it purchased 202,037 ETH tokens “over the past few days,” taking advantage of the lower prices.
ETH dropped to $3,944 in late trading on Wednesday, marking a 20% retrace from its August historic high of $4,946. It has since jumped slightly higher at the time of writing, trading just above the important $4,000 threshold as Trump has softened his rhetoric on a trade war.
Other treasury firms, like Bitcoin miner MARA Holdings joined BitMine in buying the dip, snatching up $46.2 million in BTC during the brief tumble last weekend.