BitMine Scoops Up 202,000 ETH as Market Dips $19 Billion

Crypto News Altcoins

Written by Aaron S.,

Editor-In-Chief

Last Updated: October 14, 2025

Key Takeaways

BitMine purchased 202,037 ETH for $827 million after a market dip, which boosted its total holdings to over 3 million ETH;
The firm's Ethereum position now makes up about 2.5% of the total ETH supply, with an average buy price of $4,154;
BitMine's chairman said the price drop offered a buying opportunity, which moved them closer to their 5% ETH ownership goal.

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BitMine Scoops Up 202,000 ETH as Market Dips $19 Billion

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BitMine, a company holding the largest amount of Ethereum ETH $3,039.30 , made a major purchase over the weekend as cryptocurrency prices dropped.

The firm took advantage of the lower prices to strengthen its position in Ethereum.

According to a post on X on October 13, BitMine bought 202,037 ETH by spending roughly $827 million.

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This increased its total Ethereum holdings to over 3 million ETH, which represents around 2.5% of the total amount of ETH available. The company paid an average of $4,154 per coin for the latest acquisition.

BitMine's total assets are estimated at $13.4 billion. This includes $12.9 billion in crypto and other high-risk investments, 192 Bitcoin BTC $90,971.67 , $104 million in cash, and a $135 million stake in Eightco Holdings, a tech firm listed on the Nasdaq.

The recent ETH purchase came after a drop in the crypto market on October 10, which led to widespread asset selloffs totaling $19 billion over the weekend.

Tom Lee, the company’s chairman and also head of research at Fundstrat, said the fall in Ethereum's price provided a good moment for the company to buy. He noted that the firm is now more than halfway toward its goal of eventually holding 5% of all Ethereum.

Lee also added that market swings often result in forced selling. He said this creates chances for long-term investors to benefit, even though short-term traders may suffer.

Recently, Bit Digital invested $140 million to buy 31,057 ETH, which raised its total Ethereum holdings to over 150,000 ETH. What did CEO Sam Tabar say? Read the full story.