BitMine Provides $103.6M ETH As Fundstrat Predicts Rally To $5.5K

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Fundstrat Says ETH May Soar To $5.5K As Pullback Finish Nears Quick-Vendor Says BitMine’s Technique Of Promoting Fairness To Purchase ETH Is A ”Relic”Associated Articles:

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Tom Lee’s BitMine Immersion Applied sciences has added to its Ethereum stockpile with one other $103.68 million buy as Fundstrat says the altcoin is poised to surge to $5.5k.

BitMine obtained the 23,823 ETH from BitGo earlier right now by way of the pockets handle “”0xF8c … 338E7,” according to an X publish by on-chain analytics platform Lookonchain.

The acquisition brings BitMine’s complete ETH treasury to 2,853,974 tokens value about $12.35 billion, consolidating its place as the biggest company ETH holder globally. The agency additionally holds 192 BTC, $113 million in Nasdaq-listed Eightco shares, and $456 million in money.

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BitMine offered its newest holdings replace for Oct 6, 2025:
$13.4 billion in complete crypto + “moonshots”
– 2,830,151 ETH at $4,535 per ETH token
– 192 $BTC cash
– $113 million Eightco stake (NASDAQ-$ORBS)
– unencumbered money $456 million
Ticker: $BMNR…
— Bitmine (NYSE-BMNR) $ETH (@BitMNR) October 6, 2025

Fundstrat Says ETH May Soar To $5.5K As Pullback Finish Nears

Analysis agency Fundstrat, of which BitMine’s Lee can also be CIO, says ETH will probably “backside out” over the following two days after which soar greater than 26% to $5.5k.

“I don’t make a lot of crypto weak point in latest days, and count on ETH probably bottoms out over the following 1-2 days earlier than heading again increased,” mentioned Fundstrat’s Managing Director Mark Newton.

Crypto savant @MarkNewtonCMT at it once more:
“I don’t make a lot of Crypto weak point in latest days, and count on $ETHUSD probably bottoms out over the following 1-2 days earlier than heading again increased and rallies to $5500.
– Following a latest robust technical rally from 9/25 into 10/7 in… pic.twitter.com/LCQDtGpDXs
— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) October 9, 2025

The ETH worth has dropped over 2% within the final 24 hours, in response to information from CoinMarketCap.

BitMine Provides 3.6M ETH As Fundstrat Predicts Rally To .5K

ETH worth (Supply: CoinMarketCap)

After reaching a brand new all-time excessive (ATH) of $4,953.73 on Aug. 24, the altcoin chief’s worth has retraced greater than 12% to commerce at $4,349.22 as of 1:35 a.m. EST.

Quick-Vendor Says BitMine’s Technique Of Promoting Fairness To Purchase ETH Is A ”Relic”

The latest ETH transaction comes only a day after the short-seller Kerrisdale Capital focused BitMine in its newest report, saying its ETH treasury technique is “chasing a mannequin that’s on its solution to extinction.”

Kerrisdale argued that BitMine’s technique of promoting shares at a premium to buy ETH and develop its token-per-share metric is not efficient, highlighting that the corporate’s worth in comparison with its crypto holdings is narrowing.

“The sheer velocity of BMNR’s inventory issuance has turned early enthusiasm into fatigue, with traders conditioned to imagine each rally will probably be met by extra provide,” it mentioned. “Whereas the corporate nonetheless stories headline development in complete ETH tokens, the tempo of ETH-per-share accretion has slowed because the NAV premium narrows and the share depend balloons – a development made more durable to observe after BMNR quietly dropped up-to-date share counts from its weekly press releases.”

Kerrisdale additionally revealed that it has opened a brief place on BitMine’s inventory, which is a wager that the corporate’s share worth will fall.

This isn’t the primary time Kerissdale has predicted inventory drops for crypto-related firms. It has additionally focused Riot Platforms and Technique, that are two of the biggest Bitcoin treasury firms globally.

Riot dismissed Kerrisdale’s findings as “unsound,” whereas Technique ignored the report.

BitMine share price

BitMine share worth (Supply: Google Finance)

BitMine’s share worth dropped over 1% after the brief vendor launched its report, but it surely’s nonetheless up greater than 3% previously week, and has exploded by 14,650% in six months, in response to Google Finance.