In short
- Bitmine Immersion Applied sciences added greater than 24,000 ETH valued round $75 million final week.
- The agency now holds round 3.5% of the whole ETH circulating provide.
- Bitmine's purchases are included as a catalyst for ETH outperformance based on a brand new analysis be aware from Commonplace Chartered.
Main publicly traded Ethereum treasury agency BitMine Immersion Applied sciences added 24,266 ETH, valued round $76 million, to its stockpile during the last week.
The newest acquisition extends its Ethereum treasury to greater than 4.16 million ETH, round $13 billion price, making it the biggest Ethereum treasury and second-largest crypto treasury general behind Technique’s Bitcoin stash (valued round $63 billion). BitMine now holds round 3.5% of the whole Ethereum circulating provide.
"2026 augurs many constructive issues for crypto with stablecoin adoption and tokenization driving to make blockchain the settlement layer of Wall Avenue, significantly favoring Ethereum," mentioned BitMine Chairman Tom Lee in an announcement.
"We proceed to view the leverage reset post-October 10 as akin to the 'mini crypto winter.' 2026 is the 12 months crypto costs get better, with stronger positive factors in 2027-2028,” he continued, referring to October’s record-setting liquidation cascade that took down $19 billion price of positions in a single day.
Lee and BitMine stay strongly convicted in Ethereum, placing their “cash the place their mouth is” amid Lee’s name for a “100x ETH supercycle" and a future worth goal of $250,000 per ETH.
The agency’s future confidence within the second-largest asset by market capitalization is supported by a brand new analysis be aware revealed Monday by banking big Commonplace Chartered, which provides a nod to BitMine’s continued shopping for as a catalyst for ETH’s outperformance versus Bitcoin transferring ahead.
“We see a number of drivers of ETH outperformance,” wrote Commonplace Chartered Analyst Geoff Kendrick. “Whereas all digital belongings have seen slower inflows through ETFs and digital asset company treasury firms (DATs), continued shopping for by BMNR—the biggest ETH DAT—places ETH at a relative benefit.”
Like Lee, Kendrick additionally factors to stablecoin adoption and real-world asset tokenization as necessary traits that may buoy ETH transferring ahead, and in the end shrink the ETH-BTC ratio sooner or later.
The worldwide financial institution revised down its near-term worth targets for ETH primarily based on weakened crypto efficiency, now suggesting a worth of $7,500 in 2026—which nonetheless would comprise a document peak for ETH—in comparison with earlier projections of $12,000.
However alongside the near-term revisions, Commonplace Chartered elevated its longer-term outlooks, now predicting costs of $30,000 for ETH by 2029, and $40,000 by 2030.
“In absolute phrases, Bitcoin’s weaker-than-expected efficiency has prompted us to downgrade our BTC forecasts and push out our eventual $500,000 forecast to 2030,” wrote Kendrick.
“Given Bitcoin’s dominance of the digital belongings house, we additionally downgrade our ETH-USD forecasts for the following few years,” he added. “In relative phrases, nonetheless, we predict prospects for Ethereum have turned extra constructive.”
ETH would want to leap almost 1,200% to hit Commonplace Chartered’s $40,000 worth goal, primarily based on its Monday buying and selling worth. The asset is roughly flat during the last 24 hours, not too long ago altering arms at $3,132. It stays virtually 37% off its 2025 all-time excessive worth of $4,496.
BitMine (BMNR) shares not too long ago traded up greater than 3% on the day at a worth of $31.04.
