BITMINE CONTINUES TO BUY NET ETH + LESSON ON PRICE FORECASTS IN THE MARKET
BitMine has just purchased an additional 33,504 ETH from FalconX, equivalent to 112 million USD, raising its total holdings to 3.86 million ETH – accounting for 3.2% of the total circulating supply. Chairman Tom Lee believes that ETH has bottomed around 2,500 USD and could reach 7,000 USD by early 2026, comparing Ethereum today to Bitcoin in 2017 and believing in a separate 'supercycle' for ETH.
The company is incurring losses but continues to buy heavily with the goal of holding 5% of the total Ethereum supply, which means they need to continue purchasing approximately 2.5 million more ETH. The average cost is estimated to be in the range of 3,500–3,800 USD.
However, it is important to remember that price forecasts are always volatile. Even Tom Lee has adjusted the ETH target multiple times: from 12,000 USD → 9,000 USD. Similarly, Ric Edelman predicts BTC at 180,000 USD in 2026, aligning with JP Morgan's views. But 'forecasting the right time' has never been easy.
The reality shows that the most effective strategy remains long-term holding and DCA. The market rewards those who are more patient rather than trying to guess the bottom–top.
Personally, I still believe: $ETH can definitely reach 5,000 USD by mid-2026 if institutional capital maintains the current trend.
