Ethereum (ETH) has reached a new multi-year high, surpassing $4,400 for the first time since December 2021. This impressive rally is fueled by aggressive institutional accumulation, most notably from Tom Lee’s BitMine Immersion Technologies, which has expanded its equity offering to $20 billion with plans to hold up to $24.5 billion in total ETH.
BitMine’s Bold Move Accelerates ETH Growth
BitMine, under the leadership of Fundstrat CEO Tom Lee, is executing an aggressive treasury strategy that aims to acquire as much as 5% of Ethereum’s circulating supply. As of August 12, 2025, BitMine holds over 1.15 million ETH, valued at more than $5 billion, positioning itself as one of the largest corporate holders in the market. The massive expansion of their equity offering has sent strong bullish signals throughout the crypto sector, mirroring MicroStrategy’s renowned accumulation tactics in the Bitcoin space.
Other institutional investors, including SharpLink and The Ether Machine, have joined in, with collective moves reinforcing Ethereum’s transformation from a speculative asset to a strategic treasury holding. The announcement of BitMine’s capital raise coincided with Ethereum’s price rally, driving a weekly gain of 23%—a stark contrast to Bitcoin’s comparatively modest 6% rise.
Market Impact and Bullish Projections
The response from both retail and institutional investors has been overwhelmingly positive. ETH’s recent performance has attracted substantial inflows, raising expectations for a potential new all-time high in the coming months. Tom Lee has publicly forecast that Ethereum could surge to $7,000–$15,000 by year-end, with longer-term aspirations as high as $60,000, given the increasing pace of corporate adoption and supply constraints.
Ted Pillows, a crypto investor and entrepreneur, compared BitMine chairman Tom Lee to Strategy CEO Michael Saylor, who was in charge of building up the biggest Bitcoin corporate treasury.
We finally got our $ETH Michael Saylor.
— Ted (@TedPillows) August 12, 2025
Bitmine wants to buy $20,000,000,000 Ethereum.
Lets gooooooo 🔥 pic.twitter.com/5XHJdnyNqf
Ethereum’s sharp ascent is redefining the cryptocurrency landscape, bolstered by unprecedented institutional investment and positive market sentiment. As BitMine steps up its accumulation, all eyes are on Ethereum’s momentum and the new benchmarks it could soon achieve, further cementing its role as a foundational asset across corporate treasury strategies