{"id":26030,"date":"2025-08-12T17:04:41","date_gmt":"2025-08-12T14:04:41","guid":{"rendered":"https:\/\/forklog.com\/en\/ether-hits-a-fresh-high-above-4400-after-bitmine-announcement\/"},"modified":"2025-08-12T17:04:41","modified_gmt":"2025-08-12T14:04:41","slug":"ether-hits-a-fresh-high-above-4400-after-bitmine-announcement","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ether-hits-a-fresh-high-above-4400-after-bitmine-announcement\/","title":{"rendered":"Ether hits a fresh high above $4,400 after BitMine announcement"},"content":{"rendered":"<p>The price of Ethereum <a href=\"https:\/\/www.coingecko.com\/en\/coins\/ethereum\">set<\/a> a local high above $4,400. Gains accelerated after mining company BitMine Immersion Technologies (BMNR) announced <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1829311\/000149315225011833\/form8-k.htm\">raising<\/a> an additional $20bn to purchase the asset.<\/p>\n<p>The firm filed a prospectus with the U.S. Securities and Exchange Commission (SEC) to expand its at-the-market equity programme. Total capacity rose to $24.5bn, including $2bn under the initial agreement, $2.5bn under the previous supplement and $20bn under the new one.<\/p>\n<p>Matthew Sigel, head of digital-asset research at VanEck, noted that this is a fivefold increase in issuance capacity.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">BitMine ($BMNR) just filed to expand its at-the-market equity program by $20B, a 5x increase in issuance capacity, to fund more ETH purchases.<\/p>\n<p>\u25b6\ufe0f Prior authorized: $4.5B<br \/>\u25b6\ufe0f New supplement: +$20B<br \/>\u25b6\ufe0f Total capacity: $24.5B <a href=\"https:\/\/t.co\/DdFMiwesBk\">pic.twitter.com\/DdFMiwesBk<\/a><\/p>\n<p>\u2014 matthew sigel, recovering CFA (@matthew_sigel) <a href=\"https:\/\/twitter.com\/matthew_sigel\/status\/1955239708167942176?ref_src=twsrc%5Etfw\">August 12, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On the news, BMNR shares rose 3.8% in premarket trading. They had added 14.7% the day before.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXdrD0G9m2iMqb4f7jlERWHuJa-glFzJHOkCZLLhAGAJgrHDP-mnRowmdeI0c-GVPaiD3fS2xVgTOlDstRvdS_gJqOU-b_XG1shmvcZrkKfWEIj8o-vXfNwlSkPzdsMOyXv6TxWg1Q?key=lzaXdzp6Bm0o8PIhj_yJRw\" alt=\"Ether hits a fresh high above $4400 after BitMine announcement\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/www.google.com\/finance\/quote\/BMNR:NYSEAMERICAN\">Google Finance<\/a>.<\/figcaption><\/figure>\n<p>Ethereum has risen 5.4% over the past 24 hours; the asset trades around $4,416.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXe0274Rr12bDV58yPAnlSJ_1OU4W16r6xNs6T8DDlTQ5rZDYEcvEh6VQgitruTy4RFWj0aJ2B-5pFltzA6e03eXwvYTrKHDPYhLED_BkY40cXn4Dtge_MNPC-hjzq0be0JIZiRvlQ?key=lzaXdzp6Bm0o8PIhj_yJRw\" alt=\"15-minute ETH\/USD chart on Binance. Source: TradingView.\"\/><figcaption class=\"wp-element-caption\">15-minute ETH\/USD chart on the Binance exchange. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/?exchange=BINANCE\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>BitMine was the first public company to accumulate more than 1m ETH. It now holds over 1.2m ETH worth about $5bn. The firm\u2019s strategy is to accumulate and stake Ethereum to generate income. The ultimate goal is to acquire 5% of the total ether supply.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXfCnTLplq4KBlKCRe875yP_1Zmyp8uMyqU9jqFu8h4a14LCxw-m9uOEkS3b6zrMkY1897y9iq_MNtn7XILpBRMdOrDBqT_RHoDtDnqvb0rHoF99HLKS8A5sevri4xdI2VGkvWWSyw?key=lzaXdzp6Bm0o8PIhj_yJRw\" alt=\"Largest Ethereum holders among public companies. Source: Strategic ETH Reserve.\"\/><figcaption class=\"wp-element-caption\">Largest Ethereum holders among public companies. Source: <a href=\"https:\/\/www.strategicethreserve.xyz\/\">Strategic ETH Reserve<\/a>.<\/figcaption><\/figure>\n<p>Proceeds from the share sale may also be directed to buying bitcoin and expanding mining operations.<\/p>\n<p>BitMine\u2019s chairman and Fundstrat co-founder Tom Lee said Ethereum could repeat bitcoin\u2019s 2017 scenario. He believes the price could reach $30,000.\u00a0<\/p>\n<p>He said potential drivers include regulatory approval of stablecoins, the SEC\u2019s readiness to move finance onto the blockchain, and Ethereum-based projects from JPMorgan and Robinhood.<\/p>\n<p>Analyst MikybullCrypto, amid these developments, wrote:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cHonestly, altseason is officially confirmed.\u201d<\/em><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">HONESTLY, ALTSEASON IS OFFICIALLY CONFIRMED <a href=\"https:\/\/t.co\/VlTTiB6uMB\">pic.twitter.com\/VlTTiB6uMB<\/a><\/p>\n<p>\u2014 Mikybull \ud83d\udc02Crypto (@MikybullCrypto) <a href=\"https:\/\/twitter.com\/MikybullCrypto\/status\/1955251081052623284?ref_src=twsrc%5Etfw\">August 12, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>BitMine leads among corporate holders of Ethereum. It is followed by SharpLink with 598,800 ETH ($2.6bn) and The Ether Machine with 345,400 ETH ($1.5bn).<\/p>\n<h2 class=\"wp-block-heading\">Whales awaken<\/h2>\n<p>An unknown whale bought 312,052 ETH worth $1.34bn over eight days, according to Lookonchain. Ten new wallets were used for the purchases.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">What a crazy accumulation!<\/p>\n<p>This mysterious entity created 10 new wallets in the past 8 days and accumulated 312,052 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a>($1.34B) from <a href=\"https:\/\/twitter.com\/hashtag\/FalconX?src=hash&#038;ref_src=twsrc%5Etfw\">#FalconX<\/a>, <a href=\"https:\/\/twitter.com\/hashtag\/GalaxyDigital?src=hash&#038;ref_src=twsrc%5Etfw\">#GalaxyDigital<\/a>, and <a href=\"https:\/\/twitter.com\/hashtag\/BitGo?src=hash&#038;ref_src=twsrc%5Etfw\">#BitGo<\/a>.<a href=\"https:\/\/t.co\/1Hk0pVMW6s\">https:\/\/t.co\/1Hk0pVMW6s<\/a> <a href=\"https:\/\/t.co\/NTUIpS1QLr\">pic.twitter.com\/NTUIpS1QLr<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1955092608881226210?ref_src=twsrc%5Etfw\">August 12, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The purchase volume exceeded by $300m the record daily inflow into US spot Ethereum ETFs. On August 11 they <a href=\"https:\/\/forklog.com\/en\/news\/ethereum-etfs-draw-more-than-1bn-in-a-day\">attracted $1bn<\/a>, the best result since launch.<\/p>\n<p>Shares of 180 Life Sciences Corp., recently renamed ETHZilla, jumped more than 90% after news that tech billionaire Peter Thiel had become a shareholder.<\/p>\n<p>According to SEC filings, Thiel <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1690080\/000141588925021455\/xslSCHEDULE_13G_X01\/primary_doc.xml\">now owns 7.5% of ETHZilla<\/a> through several of his funds. The biotech firm recently changed its business model and focused on accumulating digital assets (DAT).<\/p>\n<p>ETHZilla said it holds 82,186 ETH worth about $349m and $238m in cash equivalents. The average purchase price was $3,806. Earlier this month the company raised $425m from more than 60 investors, including Electric Capital, Polychain Capital and Eigenlayer founder Sreeram Kannan.<\/p>\n<p>The DAT model is gaining popularity. Investors are turning small public companies into cryptocurrency holders, following Strategy\u2019s example.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cWe have deployed more than $350m to rapidly execute our strategy of building an Ethereum treasury. We believe this reserve will unlock cash flow for our shareholders,\u201d said ETHZilla chairman MacAndrew Rudisill.<\/em><\/p>\n<\/blockquote>\n<p>Analysts say such large accumulations could push ether towards its all-time high of $4,890. Demand has risen ahead of US inflation data that could influence the <span data-descr=\"U.S. Federal Reserve System\" class=\"old_tooltip\">Fed<\/span> decision on interest rates on September 17.<\/p>\n<p>According to CME FedWatch, markets assign an 82% probability of holding the current level. At the same time, short-term Ethereum holders are actively taking profits, which may indicate expectations of a pullback.<\/p>\n<p>Earlier, the second-largest cryptocurrency <a href=\"https:\/\/forklog.com\/en\/news\/ethereum-surpasses-bitcoin-in-growth-rate-for-the-first-time-since-2024\">became the leader<\/a> in price gains among leading cryptoassets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of Ethereum set a local high above $4,400. Gains accelerated after mining company BitMine Immersion Technologies (BMNR) announced raising an additional $20bn to purchase the asset. The firm filed a prospectus with the U.S. Securities and Exchange Commission (SEC) to expand its at-the-market equity programme. Total capacity rose to $24.5bn, including $2bn under [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,1473],"class_list":["post-26030","post","type-post","status-publish","format-standard","hentry","category-news-and-analysis","tag-ethereum","tag-reserve-currencies"],"aioseo_notices":[],"amp_enabled":true,"views":"40","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/26030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=26030"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/26030\/revisions"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=26030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=26030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=26030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}