- Bitmine projects ETH at $60K, citing its potential to support $7T in global financial rails.
- The firm amassed $2.7B in ETH within 18 days, securing a leading position in the Ethereum treasury.
- Joe Lubin says Bitcoin acts as digital gold, but Ethereum is building a digital trust layer.
Bitmine (BMNR) has placed a bold wager on Ethereum’s future by projecting a price of $60,000 per token, up from the current $3,800 level. The firm bases this projection on Ethereum’s potential to support a $7 trillion global financial infrastructure, replacing legacy systems like Wall Street and international payment networks.
While the company has not disclosed a specific timeline, this projection is shaping its aggressive investment and infrastructure strategy. In support of this narrative, in just 18 days, Bitmine has amassed $2.7 billion in ETH holdings, positioning itself as a dominant Ethereum treasury company.
The firm likens its strategy to that of MicroStrategy’s Bitcoin playbook, even branding itself the “MicroStrategy of Ethereum.” During that same period, its net asset value per share jumped from $4 to $23—a sixfold increase.
Central to Bitmine’s strategy is what it calls “The Alchemy of 5%”—a goal to influence and secure 5% of the Ethereum network. This includes building a U.S.-based validator network, participating in Ethereum governance, and investing in “moonshot” technologies that can boost the network’s value.
The approach is strategic, as establishing Ethereum infrastructure within the United States allows Bitmine to align blockchain development with national priorities, regulatory compliance, and security standards.
A Strategic Shift Toward U.S.-Based Crypto Infrastructure
Bitmine’s pivot to a U.S.-centered Ethereum strategy comes at a pivotal moment, as the political and economic climate increasingly supports domestic innovation and manufacturing. President Donald Trump has emphasized the importance of reshoring production, stating, “When we purchase products made in the USA, the profits stay here, the revenue stays here, and the jobs… they stay right here in the USA.”
In line with this sentiment, Bitmain Technologies—one of the world’s largest crypto mining hardware manufacturers—is planning to open its first American facility by early 2026, according to Bloomberg. The company is evaluating sites in Texas and Florida, a move driven by rising tariffs, increased scrutiny on Chinese exports, and a growing demand for U.S.-based digital infrastructure.
Despite growing global diversification, China remains a dominant force in crypto mining infrastructure. According to a report by the University of Cambridge, Chinese firms continue to hold overwhelming control over mining hardware production.
Companies like Bitmain, Canaan, and MicroBT collectively manufacture approximately 99% of all ASICs—the specialized machines used to validate Bitcoin transactions. Among them, Bitmain stands out as the clear leader, commanding an estimated 82% market share.
Ethereum as the Foundation of the New Digital Economy
While Bitcoin continues to lead as the primary digital store of value, Ethereum is carving out a distinct and powerful role in the crypto ecosystem. With its transition to proof-of-stake, Ethereum has unlocked new possibilities for scalability, efficiency, and utility. Joseph Lubin, CEO of ConsenSys, emphasized this evolution, contrasting Bitcoin’s role as “digital gold” with Ethereum’s broader mission to redefine digital trust.
Whereas Bitcoin offers a hedge against monetary debasement, Ethereum provides the infrastructure for programmable agreements, decentralized applications, and automated processes, laying the groundwork for a more open and trustworthy digital economy.
Related: Ethereum Treasuries Surge as BitMine, BTCS Lead New Strategy
Lubin emphasized that Ethereum’s programmability sets it apart, allowing developers and users to build decentralized applications that automate and enforce agreements with guaranteed execution and verifiable outcomes. He described Ethereum as “trustware”—a new kind of software that redefines how people interact with systems, processes, and each other.
“Ether is the highest-grade trust commodity,” Lubin said, underscoring his view that Ethereum’s architecture will drive faster and broader economic growth by enabling more secure, efficient, and transparent systems.
Echoing analyst Tom Lee’s sentiment that “the next Bitcoin is Ethereum,” Lubin pointed to growing institutional recognition and adoption as signs that Ethereum’s future is no longer distant—it is happening now.
