Bitmine Immersion Applied sciences chairman Tom Lee says the crypto treasury firm took benefit of a latest Ether value drop underneath $2,200 to scoop up one other 71,672 Ether for its stockpile.
Ether (ETH) has traded between $2,081 and $2,341 over the previous seven days. It was buying and selling at $2,128 as of Tuesday and was down 8.7% over the identical interval.
“Over the previous week, we acquired 71,672 ETH. We view the latest pullback of ETH to beneath $2,200 as a sexy alternative. Bitmine is predicted to succeed in the alchemy of 5% someday in 2026,” Lee said on Monday.
Bitmine is the most important Ether treasury firm and has constantly purchased the token, even throughout market downturns, in a enterprise mannequin just like Michael Saylor’s Bitcoin treasury agency, Technique.
Bitmine’s whole treasury holdings stand at greater than 5.2 million, with the corporate’s purpose to carry 5% of the token’s circulating provide of 120.7 million. It bought 26,659 Ether between Might 4 and Might 11, breaking its three-week streak of including greater than 100,000 Ether per week.
It comes amid reviews that an Ethereum whale who beforehand cashed out their Ether additionally purchased the dip over the weekend, making a return to the asset.
Blockchain analytics platform Lookonchain said in an X submit Saturday {that a} whale who purchased Ether greater than a decade in the past and bought their holdings a yr in the past has began shopping for once more.
Supply: Lookonchain
The OG whale bought 1,951 Ether at $2,182, and Lookonchain speculated “he could hold shopping for.”
Ether underneath strain amid Center East battle
Lee said Monday that rising oil priceswhich soared after the battle within the Center East escalated earlier this yr, have been a constant drag on Ether’s value. He predicted {that a} reversal in oil costs may result in Ether recovering.
Ether reached an all-time excessive of $4,946 in August 2025 however has since fallen about 57%. Analysts have predicted the token may nonetheless rise earlier than the top of the yr.
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Monetary establishment Citigroup predicted in March that Ether may attain $3,175 within the subsequent 12 months. In a bull case, nevertheless, it may hit $4,488, pushed by stablecoin and tokenization curiosity and utilization.
In the meantime, CoinGecko, citing prediction market information, speculated that Ether has a 48% likelihood of ending the yr at $1,500 and a 25% likelihood of ending the yr at $3,500.
Earlier this yr, banking large Commonplace Chartered had a extra bullish outlook. Geoffrey Kendrick, the financial institution’s head of digital belongings analysis, mentioned in a January report that Ether may hit $7,500 by the top of the yr, pushed by rising adoption of blockchains and onchain merchandise.
Journal: Guide to the top and emerging global crypto hubs — Mid-2026
