Tom Lee's BitMine Acquires 97,000 $ETH, Now Holds 3% of Total Supply


Tom Lee's BitMine Immersion Technologies purchased 96,798 $ETH last week for roughly $273 million, representing a 39% increase from its prior weekly buying pace. The acquisition brings the company's total #Ethereum holdings to 3.73 million tokens valued at approximately $10.5 billion at current prices.


The purchase extends BitMine's position as the largest Ethereum treasury company. BitMine also holds 192 $BTC, a $36 million equity stake in Eightco Holdings, and $882 million in cash, bringing total combined assets to $12.1 billion.


BitMine shares declined 7.7% in pre-market trading as $ETH fell 6% overnight to just above $2,800. The company's treasury position represents more than 3% of total Ethereum supply, placing it two-thirds toward its stated goal of controlling 5% of the network.


Digital asset treasury companies face mounting pressure as declining crypto prices compress stock valuations. Most firms have halted asset purchases while some have begun selling holdings to narrow gaps between share prices and net asset values.

image
December 01, 2025 at 7:05 PM
33
2