BitMine's $32K ETH Haul Fuels Expectations of Ethereum Price Surge
BitMine Immersion Technologies acquired 32,447 Ethereum (ETH) last week, increasing its holdings to 5.847 million ETH.
The chairman of BitMine, Thomas Lee, believes that if ETH experiences a 30% gain, it may signal a launch point for an even larger move in the cryptocurrency.
Lee referenced two previous instances where ETH saw significant gains after 30% rallies: in July 2021 and May 2025, when the price increased by +167% and +170%, respectively.
Meanwhile, US spot ETH exchange-traded funds (ETFs) recorded their best week since October last year, with $697 million in net inflows, according to SoSoValue data.