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BitMine Immersion Technologies Inc. (NYSE:BMNR) has added another $44 million in Ethereum (CRYPTO: ETH), landing fresh on-chain buys as Tom Lee doubles down on his call for ETH to hit $7,000 to $9,000 by early 2026.
Lookonchain reported on Friday that BitMine acquired 14,618 ETH using a wallet identified as "0xbd0…E75B8."
The transaction occurred at roughly 5:07 p.m. on Thursday, according to Arkham-linked tracking.
BitMine has not confirmed the transaction, leaving the disclosure dependent on blockchain intelligence data.
The purchase follows BitMine's $200 million Ethereum addition earlier this week.
The company now holds 3,629,701 ETH, valued near $10.9 billion under its last confirmed disclosure.
Its holdings represent almost 3% of Ethereum's circulating supply, based on recent estimates.
BitMine has repeatedly stated a long-term goal of controlling 5% of total supply.
The company has also emphasized Ethereum's expanding presence in financial market infrastructure.
BitMine Chair Tom Lee offered a bullish outlook for Ethereum during a recent interview.
He said ETH could bottom near $2,500 before rising toward $7,000 or even $9,000 by late January 2026.
Lee argued that Ethereum's neutrality and scaling progress align with broader institutional demand.
Lee added that he anticipates a dovish Federal Reserve stance before year-end.
He believes improved clarity could help ease pressure across digital asset markets.
Lee also forecast Bitcoin (CRYPTO: BTC) moving above $100,000 once conditions stabilize.
BMNR Price Prediction As Of November 28th (Source: TradingView)
BMNR continues to trade within a multi-week decline despite the new blockchain activity.
The stock remains below its descending trendline and the Supertrend resistance near $36.29.
This structure keeps sellers in control across most timeframes.
Price recently defended support at $23.86, creating a modest reaction.
However, BMNR remains below the 0.236 Fibonacci retracement near $33.77, limiting upward momentum.
A daily close above that level is required to confirm stabilization.
A trendline break could open a move toward $39.90 and $44.85.
These levels align with the 0.382 and 0.5 retracements, respectively.
Failure to reclaim that zone risks renewed selling toward the prior low at $23.86.
Bulls need a decisive move above $47.64 to shift the broader trend.
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