Tom Lee’s BitMine buys 54,156 ETH for $169M, increasing holdings to $11.11B despite Ethereum’s price drop to $3,120.
Tom Lee’s BitMine has made a major move by acquiring 54,156 ETH amid market volatility. This purchase, valued at approximately $169 million, increases BitMine’s total Ethereum holdings to 3.56 million ETH.
Currently, these holdings are worth $11.11 billion, based on Ethereum’s market price of $3,120. This acquisition comes as Ethereum faces declining prices, raising questions about market stability.
BitMine’s Large ETH Purchase Amid Market Volatility
Tom Lee’s BitMine has bought 54,156 ETH in one week, demonstrating strong belief in Ethereum’s potential.
The average purchase price for these tokens was around $4,017. Since then, Ethereum’s price has dropped to $3,120, leading to a paper loss of $3.19 billion. Despite this, BitMine has continued to hold its position, signaling confidence in Ethereum’s future.
Tom Lee(@fundstrat)'s #Bitmine bought 54,156 $ETH($169M) last week and currently holds 3,559,879 $ETH($11.11B).
Based on the price when Bitmine's wallets received the ETH, its average cost is around $4,017.
At the current price of $3120, Bitmine is sitting on a paper loss of… pic.twitter.com/bN38TbitAZ
— Lookonchain (@lookonchain) November 17, 2025
Institutional investors, including BitMine, see Ethereum as a valuable long-term asset despite its recent price decline.
BitMine’s large purchase further solidifies its position as one of the largest institutional holders of Ethereum. This move contrasts with the broader market trend of increasing caution and volatility in the crypto space.
Although BitMine’s purchase is a significant investment, the timing has raised questions.
Ethereum’s recent dip in price has some market observers speculating on the possibility of more downside. However, BitMine’s strategy indicates that it expects Ethereum to recover in the long run.
Ethereum ETFs See Major Outflows Amid Market Decline
Ethereum investment products, including ETFs, have experienced significant outflows in the past week. A total of $728.3 million was withdrawn from Ethereum ETFs, signaling reduced institutional confidence. A large part of this outflow came from a major asset manager, which sold $421.4 million worth of Ethereum.
These outflows have sparked concerns about the short-term stability of Ethereum’s price. Institutional investors are becoming more cautious, possibly due to growing uncertainty in the broader market. The outflows suggest that some investors are seeking safer assets amid the current volatility.
Despite these outflows, Ethereum remains an important part of many institutional portfolios. However, the outflows reflect growing skepticism about Ethereum’s price stability in the near future. This has contributed to a bearish sentiment, adding pressure to Ethereum’s already declining price.
Related Reading: Whales Keep Buying Ethereum, Here’s What’s Next for the Price
Arthur Hayes’ ETH Sales Fuel Market Concerns
Arthur Hayes, the former CEO of BitMEX, is reportedly cashing out a significant portion of his cryptocurrency holdings.
He has sold over $8 million worth of altcoins, including $ETH, for a total of $5 million. This move has attracted attention as it comes amid overall market weakness and ongoing price declines.
🚨 BREAKING
ARTHUR HAYES IS DUMPING EVERY SINGLE ALTCOIN HE HOLDS
OVER $8 MILLION CASHED OUT INCLUDING $ETH SOLD FOR $5 MILLION
WHAT IS GOING ON?? pic.twitter.com/oQUsjxeYFk
— Wimar.X (@DefiWimar) November 17, 2025
Hayes’ sale of Ethereum is seen as part of a broader strategy to reduce exposure to the market.
He has been dumping every altcoin he holds, further signaling his belief that the market could face further declines. This move has sparked speculation that Hayes is preparing for a larger market downturn.
Historically, Arthur Hayes’ sell-offs have been linked to key market turning points, raising concerns about the current state of Ethereum. His decision to liquidate a significant portion of his holdings has added to the overall bearish sentiment in the market.
As Ethereum struggles to hold above key support levels, Hayes’ actions only amplify the uncertainty surrounding the cryptocurrency’s future price direction.
