Former US President Donald Trump’s persistent push for higher tariffs—raising global tariff rates to 15%—continues to ripple through financial markets. The foray has put renewed pressure on risk assets, dragging Bitcoin back to $64,000 and causing even steeper losses across major altcoins. Despite the prevailing risk-off mood, BitMine has chosen not to retreat; instead, the firm is aggressively expanding its Ethereum reserves while the rest of the market heads for the exit.
BitMine Accelerates Ethereum Acquisition
BitMine has made another bold move by purchasing an additional 51,162 ETH, raising its total Ethereum holdings to 4,422,659 ETH. Since launching its accumulation drive in June 2025, the company has often bought when prices topped $4,000. To average down, BitMine now sees sub-$2,000 valuations as buying opportunities. According to CEO Tom Lee, the main objective is clear: to bring 5% of Ethereum’s entire supply under the firm’s reserves—a target BitMine is now more than halfway to achieving.
What underpins BitMine’s confidence in continuing large-scale purchases amid market uncertainty? CEO Tom Lee pointed to strong fundamentals in the firm’s latest statement:
“Last week, we acquired 51,162 ETH. At BitMine, we find this price dip attractive due to strengthening fundamentals, which is why we continue our steady accumulation of Ethereum. In our view, ETH’s market price still doesn’t reflect its high utility and role as a foundation for the future of finance.”
BitMine currently earns $171 million annually from staking revenues, with about 3 million ETH—roughly 69% of its total reserves—being actively staked. While the CESR (Compound Ethereum Staking Rate), overseen by Quatrefoil, stands at 2.81%, BitMine’s own staking operations have yielded a 2.89% annualized return over the past week. Progress continues on their proprietary staking infrastructure, the Made in America Validator Network (MAVAN), described as a best-in-class, secure staking solution set for rollout in early 2026. Lee believes MAVAN will significantly strengthen BitMine’s position in Ethereum’s ecosystem.
BitMine is not banking on staking income alone. The firm views tokenization as a high-growth area, anticipating that moves like last year’s GENIUS legislation—bolstering the stablecoin sector—will further amplify Ethereum’s importance. The company is betting that these trends, combined with income from staking, will make BitMine’s shares progressively more attractive while elevating the value of the network as a whole.
Outlook for Ethereum Price
Ethereum’s price, sliding as low as $1,762, has been heavily battered by Bitcoin’s prolonged downturn. External macroeconomic uncertainties have provided no respite, with each negative news cycle dealing fresh blows to ETH and other altcoins. Market observers note that if bearish momentum persists, the next key support for ETH stands at $1,880. Should that level break, it could open the door to a further decline down to $1,562.
On the flip side, any potential reversal would require Ethereum to start closing decisively above $2,100, providing the technical basis for a sustained recovery.
While BitMine’s unwavering expansion contrasts sharply with prevailing bearish sentiment, the company maintains its conviction that current prices don’t properly reflect Ethereum’s long-term utility and adoption prospects. BitMine’s aggressive accumulation and infrastructure investments may prove prescient should the network regain momentum once broader market conditions improve.
