TL;DR
- BitMine Immersion Technologies bought 102,259 ETH for $320 million, bringing its total treasury to 3,967,210 ETH, worth $12.4 billion.
- Tom Lee stated that Ethereum has hit its annual low and that the firm is reinforcing its treasury while prices remain low.
- The company is developing MAVAN, its own staking system, which could generate up to $400 million in annual revenue.
BitMine Immersion Technologies strengthened its Ethereum position last week, buying 102,259 ETH for approximately $320 million.
With this acquisition, the firm now holds a total of 3,967,210 ETH, equivalent to $12.4 billion, along with 193 BTC valued at $17 million and $1 billion in cash. The company maintains its “alchemy of 5%” goal, a plan for systematic Ethereum accumulation.
Ethereum Has Hit Its Lowest Point
Tom Lee, chairman of BitMine and CIO of Fundstrat, stated that Ethereum has already reached its lowest point of the year and that the firm is “putting its money where its mouth is,” reinforcing its treasury while prices remain low. According to Lee, recent market stability following the October 10 price shock, combined with favorable U.S. regulatory and legislative improvements, strengthens the belief that better days for ETH are ahead.
Beyond direct purchases, BitMine is developing its own staking system, called the Made in America Validator Network (MAVAN), designed to generate additional revenue on its ETH. Lee estimates this mechanism could provide up to $400 million annually in returns, offering an extra income stream.
BitMine Develops Its Own Staking System
According to the latest market data, Ethereum fell 3.7% in the last 24 hours, trading near $2,980. BMNR shares also reflect market pressure: they dropped nearly 7% at Monday’s open to $32.48 and are down almost 80% from the annual high of $161 at the end of June. Last week, BitMine purchased $429 million in ETH, its largest acquisition since October.
BitMine consolidates itself as the strongest Ethereum treasury firm in the market, combining systematic purchases with infrastructure development. The company is taking advantage of the price correction to increase its exposure and generate complementary returns
