TL;DR
- BitMine Immersion Technologies, led by Thomas Lee, increased its Ether reserves with an additional purchase of about 82,353 ETH valued at roughly $300M, raising its treasury to nearly 3.4M tokens.
- This represents close to 3% of the ETH supply and lifts the combined value of the firm’s digital assets, cash and equity positions to $13.7B.
- The move reinforces its long-term, pro-Ethereum strategy despite market volatility.
BitMine Immersion Technologies strengthened its position as one of the largest institutional holders of Ether by purchasing approximately 82,353 ETH last week. The addition brings its total to nearly 3.4M tokens, worth an estimated $13.3B at current prices. Under the leadership of Thomas Lee, the company continues to emphasize Ethereum’s role as a core asset for long-term value and utility, driven by its expanding ecosystem and growing global usage. The firm also remains committed to exploring strategic partnerships that could enhance adoption and integrate ETH more broadly across financial systems.
Early Monday trading showed a 5.7% drop in BitMine’s stock while ETH declined 3.5% over the past day. Even so, the company increased its liquid cash position to $389M, up from $305M the previous week. BitMine also holds 192 BTC and maintains equity stakes including a position in Eightco Holdings, reflecting a diversified approach within the digital asset space. Its management emphasized maintaining liquidity flexibility to capitalize on future acquisition opportunities.
Growing Institutional Confidence In Ethereum
BitMine’s ongoing accumulation aligns with an increasing level of institutional engagement in Ethereum. Technology firms and investment funds are boosting exposure to the asset as the network advances with upgrades that enhance scalability, lower costs and expand Layer 2 adoption. The company views ETH as a digital asset that offers both practical use within the network and long-term store-of-value potential supported by its development roadmap.
While several digital asset treasury firms face pressure on share prices and reduced access to new capital, some have shifted toward stock repurchases as valuations slipped below net asset value. BitMine instead continues to grow its digital reserves. Its ownership now stands near 2.8% of the circulating ETH supply, with a long-term target of reaching 5%, signalling confidence in Ethereum’s evolution.
Long Term Strategy Supporting Ecosystem Maturity
Thomas Lee highlighted that building a strong ETH position aims to reinforce both the company’s balance sheet and the ecosystem’s expansion. BitMine intends to support Web3 innovation, decentralized services and new financial models built on Ethereum.
