Ethereum Price Forecast: BitMine scoops 32K ETH, hints at further gains

Ethereum price today: $2,480

• BitMine acquired 32,447 ETH last week, lifting its holdings to 5.847 million ETH.

• Chairman Thomas Lee hinted that ETH could see further gains, similar to its moves after +30% rallies in May 2025 and July 2026.

• ETH's rally has slowed above $2,400.

Ethereum (ETH) treasury company BitMine Immersion Technologies (BMNR) expanded its digital asset holdings last week with another round of acquisitions.

The firm purchased 32,447 ETH during the week, lifting its holdings to 5.847 million ETH. That represents its largest purchase since the first week of July.

The move comes after ETH registered a 30% gain last week, marking its biggest weekly gain since May 2025. The last +30% gain before that was in July 2021.

"In those two precedent instances, this weekly gain of >30% signaled a launch point for a larger move in ETH. In July 2021, ETH subsequently gained +167% and after May 2025, ETH gained +170%," said BitMine Chairman Thomas Lee in a Monday statement. "We expect easing financial conditions to be a tailwind for crypto."

Lee also reiterated that tokenization and agentic AI on blockchains could drive a rally in the ETH/BTC ratio in the upcoming crypto cycle, similar to how ICOs, NFTs and stablecoins did in 2017, 2021 and 2025, respectively.