Tom Lee projects ETH could reach $7,000–$9,000 by January 2026 as BitMine expands its Ethereum treasury.
BitMine Expands Ethereum Holdings
BitMine Immersion Technologies reportedly purchased 14,618 ETH, valued at approximately $44.34 million, according to blockchain tracking data from Arkham Intelligence. The acquisition came through wallet “0xbd0…E75B8” via BitGo at around 5:07 p.m. on Thursday, though the transaction has not yet been officially confirmed by the company.
This follows BitMine’s recent $200 million Ethereum purchase, bringing its total holdings to roughly 3,629,701 ETH, representing about 3% of the total Ethereum supply. The company has publicly stated its goal of accumulating 5% of Ethereum’s total circulation, underlining its commitment to supporting the network’s expanding role in financial services.
Tom Lee’s Bullish Ethereum Outlook
BitMine Chair Tom Lee has reiterated his positive stance on Ethereum, forecasting that ETH could bottom near $2,500 before climbing to $7,000–$9,000 by the end of January 2026. Lee emphasized that Ethereum’s neutrality and growing adoption by institutional players, including Wall Street and government entities, make it a key blockchain for future financial applications.
Lee also noted expectations of a dovish turn from the Federal Reserve by year-end, which he believes could relieve market pressure and support upward momentum for both Ethereum and Bitcoin. Bitcoin is currently trading near $91,309, while ETH sits around $3,018, reflecting recent market volatility.
BitMine’s continued accumulation of Ethereum highlights a long-term institutional strategy focused on supporting network growth and capitalizing on future price appreciation. By expanding its treasury and leveraging favorable macroeconomic conditions, the firm positions itself to benefit from Ethereum’s increasing adoption and potential market rallies in the coming months.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.