Yesterday, Ethereum-focused company BitMine Immersions Inc. announced that it will release its 2025 financial results on November 21. The firm is expected to share details on its future digital assets strategy.
Will BitMine buy more Ethereum?
Tom Lee-led BitMine is set to release its 2025 financial results this Friday. The consensus remains that the firm will likely continue its strategy of accumulating ETH in the long-term.
In a recently released video on YouTube, BitMine Chairman Lee said that Ethereum is still massively mispriced. The crypto entrepreneur referred to the October 10 mass liquidation event, saying that the crypto market is still under extreme fear.
He added that both the Ethereum blockspace and ETH-based stablecoin creation is at an all-time high (ATH). Lee further remarked that Ethereum in 2025 is having its “1971 moment.”
To give some context, it was back in 1971 when the Gold Standard came to an end, which led to the creation of today’s international system of floating currency rates. In ETH’s context, Lee predicts that the ETH/BTC ratio should start moving toward its 8-year average, resulting in a price of $12,000 per ETH.
Similarly, if ETH gets to its 2021 high against BTC, it could surge to $22,000. Along the same lines, if ETH becomes the rails of global payments in the future, it could climb to an astonishing price of $62,000.
What does on-chain data tell?
According to a recent X post by on-chain tracking account Lookonchain, BitMine is still buying ETH. A new crypto wallet starting with 0xE2ed – reportedly linked to BitMine – recently received 21,054 ETH worth $66.57 million from Kraken exchange.
The purchase aligns with BitMine’s long-term vision of accumulating 5% of the total ETH supply. In a recent comment, Lee forecasted that Ethereum is likely following in Bitcoin’s footsteps, in that it looks poised to have its own “supercycle,” which could see the digital asset’s price appreciate by 100 times.
Several upcoming technological upgrades promise to further elevate Ethereum’s performance, which will likely trickle down to its token’s price action. The Fusaka Upgrade, scheduled to go live on December 3, will be closely followed by the wider Ethereum community.
