Bitmine’s massive buyout and a string of public outages have left markets watching the ethereal close this week. Big moves are being made during the sell-off, and firms and investors are now weighing whether those buyers are confident or simply betting on a rebound.
Big Fundraising Continues
According to the ONchain data from Arkham intelligence and the tracker ‘bmnr bullz’, bitmine technology to sink to sink 379,2037th buyers after the crash of the weekend, and 78,336th on Thursday, and 72,898th on Saturday.
Reports have revealed that the haul is worth around $1.5 billion. The purchase was not officially confirmed through BITMINA, but the transfer was visible on public ledgers.
Bitmine position and time
Bitmine is reported to hold more than 3 million eth, which is equal to about 2.5% of the entire Supply, and that the Stash was eroded by about $ 11.7 billion at the latest prices.
🚨 Huge collection of Edetherum
Bitmine just went all in $ Eth Earning a total of 379,271 eth ($1.48B) during the dip! 👀
💰 +72,898 eth ($281m) yesterday
💰 +104,336 eth ($417m) in the last 3 days
💰 +20202,037th after the accident of the weekTom Lee wasn’t laughing when he said… pic.twitterst.com/oiyHlo799wk
– BMNR Bullz (@bmnrbullz) October 18, 2025
Based on the reports, the Firm set a goal of reaching 5% of the supply and only started building the treasury at the beginning of July when ether was close to $2,500.
Tom Lee of Fundstrat has been buying – he said he bought $ 1.5 billion of ether since the crash of the market – a sign that other big players see the upside.
Questions raised about pricing
Reports say Lee has warned that the hype surrounding digital asset values, or dats, may be overdue, with many dats trading at or below their net asset value (nav).
A strong 10x audit reported that several large dats were near or below NAV. That has led investors to question whether the trading declines reflect lasting trouble or a brief market reset.
Huobi Founder Li Lin is reported to be raising about $1 billion to put the ether treasury, which shows that some firms still want to be exposed even though they are cheap.
The bullish view is mixed with market tension
According to Lee, Ederemum can “turn his back on bitcoin the way he compares it to wallpaper and equity found gold after 1971. He also warned investors” from Reserge Flush.
Markets are down 15% from the October 7 High, while gold is down about 3% from its high. Those moments form when the big owners place their bets.
Over the weekend I saw something always a cypto planter. Edemereum, the world’s largest blockchain, has been overwhelmed and is deducting a fee of over $1,000 just to process a small transaction. That’s like paying a toll-dollar amount to drive in one lane… pic.twitterst.com/m9o1sruqe0
– Kevin O’FAYY AKA Mr. Ehle (@kevinolearyv) October 16, 2025
Network complexity
Meanwhile, based on public posts and Blockchain data, Kevin O’Fooley sounded the alarm about the crowding of EnyeReum after the scheduled fee during the sale.
He wrote that simple transactions are carried by $1,000 worth of coal, which limits the ability to handle sudden demand.
Estercan data showed the daily electricity prices hit last Friday for nine months, confirmed by the market.
Featured image from unscurcwach, chart from trade sale
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