Bitmine Immersion’s $13 Billion Ethereum Bet: Tom Lee and Standard Chartered Forecast ETH Dominance and Bull Run
Bitmine Immersion Technologies (BMNR), the crypto mining and investment firm spearheaded by Fundstrat co-founder and renowned Wall Street strategist Tom Lee, is making a monumental bet on Ethereum (ETH). Following its latest round of weekly acquisitions, Bitmine’s substantial ETH holdings have surged to an impressive 4,167,768 tokens, now valued at approximately $13 billion.
A recent announcement on Monday revealed that Bitmine added another 24,266 ETH to its reserves last week. While the precise acquisition cost remains undisclosed, this recent purchase alone is estimated to be worth around $75.4 million at current market prices. This aggressive accumulation strategy has propelled Bitmine’s total cryptocurrency and cash assets to a staggering $14 billion.
Beyond mere accumulation, Bitmine is also significantly expanding its commitment to Ethereum through staking. The firm’s staked ETH position nearly doubled last week, rocketing from approximately 660,000 ETH to 1.25 million ETH. This move underscores a long-term conviction in Ethereum’s ecosystem and its future growth potential.
This strategic expansion by Bitmine aligns with increasingly bullish sentiment from leading financial institutions. Geoffrey Kendrick, Head of Global Digital Asset Research at Standard Chartered, recently declared that “2026 will be the Year of Ethereum.” Kendrick highlighted Ethereum’s improving fundamental metrics, even as Bitcoin’s recent performance has tempered the broader crypto market. He further predicted that ETH is poised to outperform BTC this year, projecting a significant climb to $7,500 by year-end.
Tom Lee echoed Kendrick’s optimism, stating in a Monday announcement: “2026 promises numerous tailwinds for the cryptocurrency market. The widespread adoption of stablecoins and tokenization is set to establish blockchain as Wall Street’s preferred settlement layer, a development particularly advantageous for Ethereum’s ecosystem.”
“We still believe that the deleveraging after October 10, 2025, will be more like a ‘mini crypto winter,’ and 2026 will be a year of price recovery, with stronger gains expected in 2027 to 2028.”
Disclaimer: This article is provided for market information purposes only. All content and opinions are for reference only and do not constitute investment advice. They do not represent the views or positions of BlockTempo. Investors should conduct their own due diligence and make independent investment decisions. The author and BlockTempo shall not be held responsible for any direct or indirect losses incurred from investor transactions.
