BitMine’s Lee calls ETH a ‘discount to the future,’ Bit Digital eyes $100M

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Digital plus institution Bit Digital plans to rise $100 cardinal done a convertible elder enactment offering to turn its Ether treasury, portion BitMine Immersion Technologies has extended its pb arsenic the largest Ether treasury company.

Bit Digital said successful a connection connected Monday it’s besides offering an enactment for an other $15 cardinal successful notes, with each nett proceeds earmarked for much Ether (ETH) purchases, positive wide firm purposes, “including imaginable investments, acquisitions and different concern opportunities relating to integer assets.”

Bit Digital presently holds much than 120,000 Ether and is the seventh-largest Ether treasury institution tracked by StrategicEtherReserve. If palmy successful its raise, the institution could acquisition different 23,714 tokens, which would bump it up the database to sixth, up of crypto speech Coinbase.

BitMine extends its lead

At the aforesaid time, BitMine announced connected Monday an enlargement successful its treasury holdings to 2.65 cardinal Ether, worthy implicit $11 billion, increasing its pb against the second-largest company, SharpLink Gaming, which holds implicit 838,000 Ether.

StrategicEtherReserve lists Sept. 26 arsenic BitMine’s latest acquisition date, erstwhile it acquired 234,000 tokens arsenic portion of its semipermanent extremity of holding 5% of the full supply.

BitMine estimates its mean acquisition terms arsenic $4,141 per Ether. The token is trading for $4,221, according to CoinGecko.

Ether purchased astatine a discount, Lee says

BitMine Chairman Tom Lee called ETH’s existent terms “a discount to the future” with 2 supercycles forming successful the last months of 2025 — crypto and artificial quality — which some “require neutral nationalist blockchains,” making Ethereum the “premier choice.”

“We proceed to judge Ethereum is 1 of the biggest macro trades implicit the adjacent 10-15 years,” Lee said.

“Wall Street and AI moving onto the blockchain should pb to a greater translation of today’s fiscal system. And the bulk of this is taking spot connected Ethereum.”

Jan van Eck, the CEO of concern absorption steadfast VanEck, which offers an Ether-based exchange-traded fund (ETF), made akin comments successful August, predicting fiscal services volition follow a blockchain to grip stablecoin transactions, and helium believes Ethereum volition beryllium the level of choice.

Ether held by institutions could propulsion price

Institutions person been steadily acquiring Ether passim 2025, with the full crossed treasury companies and ETFs sitting astatine implicit 11.8 million, representing conscionable nether 10% of the full token supply.

In August, Etherealize’s Vivek Raman told Cointelegraph the “healthy competition” betwixt companies acquiring Ether could spark a DeFi Summer 2.0 “but connected the organization standard and bigger and better.”

Meanwhile, David Grider, a spouse astatine Venture superior steadfast Finality Capital, predicted successful an X station successful July that the Ether treasury institution “boom should bode good for ETH flows and terms enactment akin to the interaction MicroStrategy had connected Bitcoin.”

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