In mid-August, Bitmine CEO Tom Lee called Ethereum “the main macro investment for 10-15 years,” calling the goal of $12,000-15,000 ETH by the end of 2025 realistic and stressing that “the growth potential is still high.”
The company reported adding $2.2 billion in ETH coins and currency (about $800 million in ETH) to the company’s balance sheet over the past week. The company raises funds through private equity placements.
BitMine began forming a crypto reserve at the end of June and in less than two months brought its volume to 1,150,263 ETH (more than $5 billion). The company ranks third among public holders of cryptocurrencies, second only to Michael Saylor’s Strategy and mining company MARA Holdings.
