Bitmine Drops $49M on ETH While Tom Lee Throws Shade at Liquidity Problems

by

So, here’s the thing. Bitmine, the crypto-crazed treasure hunter, just scooped up another 17,242 Ethereum, valued at a cool $49 million. And guess what? They’re not stopping anytime soon. They’re really going for that “largest corporate crypto treasury” title, apparently. 💰

Bitmine’s Ethereal Spending Spree Continues

It’s official. Bitmine is no longer just a mining company. Now, it’s got aspirations of becoming the Warren Buffet of Ethereum. Their goal? To lock up about 5% of all circulating ETH. That’s right, 5%. If they hit that target, they’ll need to build a whole new vault just to hold it all. 🚪💸

  • Bitmine’s latest ETH purchase is just part of its master plan to amass one of the largest crypto treasuries on the planet. (They’ve got big plans, clearly.)
  • The firm continues to buy ETH like it’s on sale, using OTC desks and staking rewards as their buying power-ups. 🍄
  • Meanwhile, Tom Lee (you know, the guy who sees the future) says the crypto market is a bit of a dumpster fire right now because market makers are still recovering from that $20 billion hit last month. Oops. 🔥

According to analytics firm Onchain Lens, this latest purchase pushes Bitmine’s Ethereum stash to a whopping 3.5 million ETH, worth over $10 billion. And they’re buying through the volatility like they’ve got a crystal ball telling them “this is the dip to buy.” 🎯

More Buying? More Aggression? Yes, Please.

Bitmine, once known for mining crypto like a traditional miner, has now decided to go full-on corporate crypto treasurer. They’re out here trying to buy up all the Ethereum. But don’t worry, they’ve got a strategy. Equity raises, staking rewards, and just plain old cash reserves fund their non-stop shopping spree. 💳

Bitmine has further bought 17,242 $ETH, worth $49.07M, from #FalconX and #BitGo.

– Onchain Lens (@OnchainLens) November 20, 2025

The company is making these buys through OTC desks like FalconX and BitGo. But don’t let the “desk” part fool you; this isn’t a casual Friday kind of buy. These are big buys. Think less “snack at the corner store” and more “buying the whole candy aisle.” 🍬

Despite Ethereum’s dramatic fall from its $4000 highs in October to the low $3000s in November (yikes), Bitmine’s like, “Nah, we’ll just buy more.” They’re now the second-largest holder of crypto after Strategy. Yeah, no big deal. 😎

Tom Lee Warns: It’s a Liquidity Crisis, People!

And now, let’s check in with Tom Lee, the chairman of Bitmine, who clearly enjoys bringing down the mood in interviews. On Nov. 20, he told CNBC that the market’s sluggish performance is basically because the market makers are busy “fixing their balance sheets.” They got caught in a nasty crash in October, and now they’re just trying to patch things up. Cue the sad violin music. 🎻

Lee said that these market makers are “cutting back activity” and “shrinking their balance sheets” like they’re on some kind of corporate diet. And this, folks, is why the prices are sluggish-these guys need to stop binge-eating their capital. 🍕

According to Lee, this little liquidity mess is going to take a couple more weeks to sort itself out. (It’s like waiting for your favorite TV show to drop its new season. Patience, people.) And while Bitcoin and Ethereum are acting like the canaries in the coal mine, he’s hopeful that things will stabilize once the market makers get back on their feet. 🙏

In the meantime, Bitmine is still trucking along with its Ethereum stash, acting like a calm, cool, collected investor in a sea of chaos. They see ETH as essential to the future of decentralized finance, smart contracts, and tokenization. Who needs stability when you’ve got Ethereum, right? 🔥

Read More

2025-11-21 07:34