Finance

BitMine Doubles Down: Why This $64.59M Ethereum Buy Signals a Bullish Trend

BitMine added $64.59M ETH, as Ethereum‘s price rebounded, signaling renewed strength after market turbulence.

November 10, 2025, 4:47 PM

Gold Ethereum coin resting on the CPU socket of a computer motherboard.

A physical gold Ethereum coin is placed directly on a computer motherboard, linking crypto to technology. By MAHATHIR MOHD YASIN / Shutterstock.com.

Executive Summary

Ethereum-focused firm BitMine acquired 18,271 ETH, valued at approximately $64.59 million, on November 10, signaling renewed strength for the asset.

This significant purchase aligns with BitMine’s ongoing strategy of aggressive accumulation, continuing to buy Ethereum even during market corrections.

The acquisition coincided with Ethereum’s price reclaiming the $3,600 mark and a broader crypto market rally, reflecting renewed investor interest and institutional conviction.

The Story So Far

BitMine’s recent multi-million dollar Ethereum acquisition is a continuation of its aggressive accumulation strategy, as the firm, considered the world’s largest ETH treasury, consistently views market corrections as opportunities to buy at discounted prices, thereby capitalizing on the broader crypto market’s current rally and renewed investor interest in Ethereum.

Why This Matters

BitMine’s substantial acquisition of 18,271 ETH, valued at over $64 million, underscores strong institutional conviction in Ethereum’s long-term potential and its aggressive strategy to become the largest ETH treasury. This significant corporate buy, coinciding with Ethereum’s price rebound and a broader market rally, suggests renewed investor interest and could act as a catalyst, further validating the asset’s value proposition and potentially encouraging additional investment in the cryptocurrency ecosystem.

Who Thinks What?

BitMine, an Ethereum-focused firm, views price dips as opportunities to acquire Ethereum at discounted prices and demonstrates strong conviction in the asset’s long-term potential through aggressive accumulation.

The broader crypto market and investors are showing renewed interest in Ethereum, leading to a significant price rebound and increased trading volume, indicating recovery from recent corrections.

Ethereum-focused firm BitMine added another 18,271 ETH to its holdings on November 10, valued at approximately $64.59 million, as the broader crypto market rallied and Ethereum’s price reclaimed the $3,600 mark. The significant purchase, revealed by on-chain tracking platform Whale Insider, signals renewed strength for the asset following recent market turbulence.

BitMine’s Accumulation Strategy

The massive acquisition involved two separate transactions, with funds transferred from the cryptocurrency exchange Kraken to a wallet consistently linked with BitMine Immersion’s recent Ethereum purchases. This aggressive accumulation aligns with BitMine’s ongoing strategy as what is considered the world’s largest ETH treasury.

The company has reportedly continued acquiring Ethereum even during recent market corrections. BitMine Chairman Tom Lee has previously viewed price dips as opportunities to “stack up the asset at discounted prices,” urging the crypto community to buy rather than exercise caution.

Market Context and Ethereum’s Rebound

Ethereum’s price surged following the purchase, recording an intraday high of $3,656 on November 10. This rebound marks a recovery from a recent correction that saw the asset’s price nearing the $3,000 level.

The resurgence is part of a broader crypto market rally, which has also seen other large corporate buys observed within the Ethereum ecosystem. Ethereum’s trading volume notably surged by 42.64% over the last day, reflecting renewed investor interest.

Key Takeaways

BitMine’s latest multi-million dollar Ethereum acquisition underscores its strong conviction in the asset’s long-term potential. This strategic move coincides with a significant market rebound for ETH, highlighting continued institutional interest in the cryptocurrency.