Tom Lee's BitMine Buys $76 Million in Ethereum as Analysts Predict ETH Outperforming Bitcoin
BitMine Immersion Technologies, a leading publicly traded Ethereum treasury firm, recently added 24,266 ETH (about $76 million) to its holdings, bringing its total to over 4.16 million ETH—about $13 billion and 3.5% of Ethereum’s circulating supply. This makes BitMine the largest Ethereum treasury and second-largest overall crypto treasury, behind Strategy’s Bitcoin reserves. Chairman Tom Lee remains bullish on Ethereum, predicting a significant price surge, with a future target of $250,000 per ETH, and highlighting anticipated gains for 2026-2028 due to stablecoin adoption and real-world asset tokenization. Standard Chartered’s latest research supports BitMine’s position, citing these trends as likely to drive ETH’s outperformance relative to Bitcoin, although the bank revised near-term ETH price targets down to $7,500 for 2026. Long-term, Standard Chartered forecasts ETH at $30,000 by 2029 and $40,000 by 2030. Bitcoin’s muted performance has led to lowered forecasts for both BTC and ETH in the short term, but analysts remain positive on Ethereum’s prospects compared to Bitcoin. BitMine’s shares rose over 3% to $31.04.
