- BitMine bought 69,822 ETH, now holding 3.63M ETH worth $10.25B, making it the largest Ethereum treasury globally.
- The firm controls 3% of Ethereum, keeps $800M cash, and invests in “moonshots,” aiming for long-term growth despite market dips.
- BitMine’s stock trades $1.6B daily, showing strong investor interest and influence in both crypto and traditional markets.
BitMine Immersion Technologies, under Thomas “Tom” Lee of Fundstrat, has increased its Ethereum holdings. The firm purchased 69,822 ETH last week, spending $197.25 million, bringing its total Ethereum treasury to 3,629,701 ETH valued at $10.25 billion.
According to the press release, BitMine holds 192 Bitcoin, $38 million in “moonshots” via Eightco Holdings (NASDAQ: ORBS), and $800 million in unencumbered cash. Consequently, the company now controls 3% of the entire Ethereum network, making it the largest ETH treasury worldwide. BitMine ranks second globally in total crypto treasury value, trailing only Strategy Inc. (MSTR) with 649,870 BTC valued at $57 billion.
The firm’s accumulation strategy targets long-term growth despite current market pressures. “The continued decline in crypto prices in the past week reflects the impaired liquidity since October 10th, as well as price technicals, which remain weak,” said Tom Lee.
ETH recently traded at $2,840 on Coinbase, near the $2,500 downside projection. Hence, BitMine positions itself to leverage asymmetric risk and potential Ethereum supercycle growth. Additionally, the upcoming Made in America Validator Network (MAVAN) promises a “best-in-class” secure staking infrastructure, slated for early 2026 deployment.
Market Impact and Trading Performance
BitMine’s public stock reflects its growing crypto influence. According to Fundstrat, the stock averages $1.6 billion in daily trading volume, ranking 50 among 5,704 US-listed stocks. Moreover, this positions BitMine ahead of Palo Alto Networks Inc. and behind Mastercard.
Such liquidity indicates strong investor interest, making BitMine one of the most widely traded US stocks. Besides market activity, regulatory developments like the GENIUS Act and SEC’s Project Crypto continue to reshape financial services. Tom Lee compared these reforms to the 1971 US departure from the gold standard, emphasizing the transformational effect on Wall Street’s modern infrastructure.
