Tom Lee's BitMine Immersion Ramps Up Ether Acquisition Adding USD435M of ETH to Treasury
BitMine Immersion (BMNR) acquired 138,452 ETH last week, bringing its total Ethereum holdings to 3.86 million ETH. The latest purchase, valued at approximately $435 million, marks the largest weekly addition in at least a month.
BitMine's cash holdings have increased to $1.0 billion, with total crypto and cash assets reaching $13.2 billion. This total includes a small Bitcoin stash as well as a stake in Eightco Holdings (ORBS). BitMine's share of the circulating ETH supply now exceeds 3.2%, reinforcing its status as the largest known Ethereum treasury.
The price of ETH is around $3,150, and BitMine shares rose about 3.8% pre-market. The acquisition pace accelerated following Ethereum's Fusaka upgrade on December 3. Broader macroeconomic factors, such as expectations for Federal Reserve rate cuts and the end of quantitative tightening, are supporting ETH's outlook in early 2026.
BitMine remains a highly traded stock, with an average daily volume of about $1.8 billion, placing it among the top 40 U.S.-listed stocks by trading volume. Despite the increased holdings, unrealized losses on the ETH stash are estimated at nearly $3 billion at current prices.
