Ethereum Hits $4,457 as BitMine Plans $20 billion ETH Buying Spree

- BitMine’s planned $20 billion ETH purchase boosts optimism. - ETH approaches its all-time high on August 12. On August 12, 2025, Ethereum surged to $4,457 following an announcement from blockchain technology firm BitMine Immersion Technologies, which revealed plans to raise $20 billion for ETH acquisitions. This news reignited bullish sentiment across crypto markets, marking Ethereum's highest price since December 2021 and highlighting renewed institutional interest in the world's second-largest cryptocurrency. BitMine’s ambitious accumulation strategy, which aims to boost its total ETH holdings to $24.5 billion, has significantly bolstered market confidence. In addition, industry analysts are drawing parallels between the aggressive approach of BitMine chairman Tom Lee and the well-documented Bitcoin buying spree of MicroStrategy CEO Michael Saylor. Lee’s optimistic stance on Ethereum’s long-term potential has further enhanced the market’s upward momentum. Meanwhile, Bitcoin traded below $120,000, despite favorable macroeconomic data such as a lower-than-expected U.S. Consumer Price Index (CPI). Although CPI trends often bolster risk assets like cryptocurrencies, Bitcoin’s stagnant behavior contrasted sharply with Ethereum's upward trajectory. Analysts suggest this divergence highlights Ethereum's growing appeal among institutional investors as the cryptocurrency inches closer to reclaiming its all-time highs. According to CoinMarketCap on August 12, Ethereum (ETH) was trading at $4,523.99 as of 20:14 UTC, which reflects a 6.678% increase in its 24-hour trading volume.