BitMine Immersion Technologies Inc. has strengthened its position in the digital asset space, purchasing over 102,000 Ethereum, as co-founder Tom Lee argues that the company’s long-term strategy remains solid despite market volatility.
- The purchase brings BitMine’s Ethereum holdings to approximately 3.97 million ETH, valued at $12.2 billion, placing the company on track to meet its goal of acquiring 5% of the Ethereum network’s total supply.
- Lee, also the chair of BitMine, expressed confidence in the digital asset market, citing upcoming regulatory developments and his belief in the long-term potential of AI and blockchain technologies.
- As the company expands its crypto treasury, it’s also preparing to launch a proprietary Ethereum staking network in 2026. Alongside these moves, BitMine’s stock has soared, averaging $1.9 billion in daily volume as it continues to grow its presence in the crypto and AI sectors.
BitMine’s total ETH holdings is currently 3.97 million ETH.
At current prices, this brings the company’s Ethereum assets to a value of around $12.2 billion. With the latest purchase, BitMine now controls more than 3.2% of Ethereum’s total supply, placing it on track to meet its goal of owning 5% of the network’s tokens.
Ethereum treasury becomes core strategy
The company’s growing Ethereum treasury has made BitMine the largest holder of ETH among public companies, second only to Michael Saylor’s MicroStrategy (NASDAQ: MSTR) when it comes to crypto reserves globally.
BitMine’s move to accumulate Ethereum marks a significant shift toward treating the cryptocurrency as a cornerstone of its corporate strategy.
Alongside this, BitMine is also advancing its “Made in America Validator Network,” a proprietary Ethereum staking infrastructure slated for launch in early 2026. This development further underscores the company’s commitment to becoming a central player in the Ethereum ecosystem.
In a recent appearance on the Prof G Podcast, Lee, co-founder of Fundstrat Global Advisors and chairman of BitMine, shared his bullish outlook on both artificial intelligence (AI) and blockchain technologies.
