BitMine Immersion Technologies · Ethereum · Strategy · Bitcoin · Decrypt
Tom Lee's Bitmine Picks up $131 million of ETH in Largest Ethereum Purchase Since June
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Bitmine Immersion Technologies picked up the pace of its Ethereum buying last week, acquiring 53,501 ETH worth roughly $131 million as chairman Tom Lee touts crypto's strong third quarter.
Key facts
- The NYSE-listed company said Monday its Ethereum stash now stands at 5,901,112 ETH, valued at about $14.8 billion using a reference price of $2,511 per coin
- Bitmine also continues to generate staking income, with 5,067,309 ETH, about 86% of its holdings, staked through its MAVAN platform for projected annualized revenue of roughly $335 million
- Bitmine Immersion Technologies picked up the pace of its Ethereum buying last week, acquiring 53,501 ETH worth roughly $131 million as chairman Tom Lee touts crypto's strong third quarter
- The move followed a rally that flipped Strategy's 840,447 BTC to a roughly $2.8 billion paper profit, after the position had spent much of the summer underwater
Summary
Bitmine bought 53,501 ETH (~$131 million), its largest weekly purchase since June, raising its holdings to 5,901,112 ETH—4.9% of supply and 98% of the way to its "Alchemy of 5%" goal. The buy extends a 65-week streak since the treasury strategy launched in June 2025; total holdings, including cash and other assets, hit $15.6 billion. Bitmine remains the largest ETH treasury and No. 2 crypto treasury behind Strategy, with 86% of its ETH staked via MAVAN for ~$335 million in projected annual revenue. The NYSE-listed company said Monday its Ethereum stash now stands at 5,901,112 ETH, valued at about $14.8 billion using a reference price of $2,511 per coin.