BitMine’s ETH Accumulation Could Tighten Supply and Help Lift Price Toward $5K, But Whale Profit-Taking May Limit Gains

BitMine has increased its Ethereum holdings to 2.83 million ETH (about $13.2B), making ETH the firm’s primary treasury asset as Tom Lee calls it the decade’s top macro trade driven by AI and rising institutional ￰0￱ holds 2.83M ETH (~$13.2B) and 192 BTC with $456M cash Collective ETH treasuries and ETFs total ~5.66M ETH worth $26.45B in October Exchange reserves fell from >20M to 16.1M ETH since July (≈20% drop) BitMine ETH holdings surge: BitMine increases Ethereum to $13.2B; read price outlook, supply data, and expert ￰1￱ informed with ￰2￱ is BitMine’s ETH accumulation and why does it matter? BitMine ETH holdings refer to the firm’s corporate treasury position in Ethereum after its latest buy-up to 2.83 million ￰3￱ accumulation matters because large corporate treasuries and ETFs reduce exchange supply and can amplify institutional demand signals for ￰4￱ many ETH does BitMine hold now?

BitMine reports holding 2.83 million ETH , 192 BTC and $456 million in cash as of October 6, ￰5￱ present valuations this equates to roughly $13.2 billion in ETH and places BitMine as the second-largest corporate crypto treasury by ETH ￰6￱ Lee, Fundstrat CIO and BitMine chairman, framed ETH as the “biggest macro trade” of the decade tied to AI and crypto ￰7￱ said BitMine aims for roughly 5% of total ETH supply (about 6 million ETH) as a long-term target. BitMine’s statement notes the firm still has ~3.2 million ETH to reach its 5% supply ￰8￱ move complements broader institutional flows and ETF activity that have concentrated ETH into treasuries, staking vehicles and long-term ￰9￱ is ETH supply tightening important?

Supply tightening increases scarcity and can reduce downside volatility during bullish demand ￰10￱ July, on-chain data shows exchange reserves fell from over 20 million ETH to about 16.1 million ETH , a ~20% reduction in liquid exchange ￰11￱ flows slowed in Q4 relative to Q3, yet demand from treasuries and existing ETFs remains ￰12￱ Grayscale ETH ETF activation of staking may further lift demand if other issuers follow similar staking-enabled ￰13￱ could accumulation affect ETH price? Reduced exchange supply plus large treasury bids can support higher price ￰14￱ recovered ~22% from the September low (~$3.8K) and recently defended $4.5K as support, making a retest of $4.8K and a run to $5K ￰15￱ said, on‑chain indicators such as OBV show resistance levels and whale profit-taking exceeded $70 million during the recent ￰16￱ sell pressure from whales could cap short-term upside near $5K.

What are the consensus risks and indicators to watch? Watch these priority indicators: Exchange reserves: continued declines signal tighter ￰17￱ flows and staking activation: renewed inflows may sustain ￰18￱ balance changes: sudden sell-offs can interrupt ￰19￱ referenced as plain text: Strategic ETH reserve, CryptoQuant, TradingView, ￰20￱ attributed to Tom Lee and Hunter Horsley are included as reported ￰21￱ Asked Questions How much ETH does BitMine plan to hold? BitMine stated a target of roughly 5% of ETH supply (~6 million ETH). The firm currently holds 2.83M ETH and intends to continue accumulating toward that target over ￰22￱ BitMine’s accumulation push ETH to $5K?

Accumulation and lower exchange reserves support a possible move to $5K, but whale profit-taking and short-term liquidity events could cap ￰23￱ ETF flows and on‑chain metrics is ￰24￱ Takeaways Scale: BitMine holds 2.83M ETH (~$13.2B), making ETH its primary treasury asset. Supply: Exchange reserves dropped to ~16.1M ETH, increasing scarcity risk. Outlook: ETH could test $5K if ETF and treasury demand persists, but whale selling may create ￰25￱ BitMine’s ETH accumulation underscores growing institutional conviction in Ethereum as a macro theme tied to AI and ￰26￱ reductions in exchange reserves and ETF-related demand are key drivers to ￰27￱ COINOTAG readers, monitor ETF flows, whale balances and exchange reserves to gauge the sustainability of any ETH rally. , "description": "BitMine raised its Ethereum treasury to 2.83M ETH (~$13.2B).

This report details holdings, supply changes, ETF context and price outlook."