#BitMine Accelerates $ETH Buying With $429M Purchase


Tom Lee's treasury firm acquired 138,452 $ETH last week for approximately $429 million, marking its largest purchase in nearly eight weeks. BitMine Immersion Technologies now holds 3.864 million tokens valued at roughly $12 billion.


The acquisition accelerates buying activity after smaller purchases in recent weeks. Four weeks ago, BitMine added 54,000 tokens, while the two weeks prior to this announcement saw combined purchases of 167,000 $ETH.


BitMine controls more than 3.2% of #Ethereum's circulating supply, cementing its position as the dominant institutional holder. The company also holds 193 $BTC worth $17.3 million and maintains $1 billion in cash reserves, bringing total assets to $13.2 billion.


Shares gained 2.5% Monday to $34.90 following the announcement. The stock ranks among the 40 most actively traded U.S. equities with daily volume averaging $1.8 billion.


Chairman Lee attributed the accelerated buying to several factors. Ethereum's Fusaka upgrade was completed on Dec. 3, delivering improvements to network scalability and security. Lee also cited the Federal Reserve's anticipated rate cut this month and the conclusion of quantitative tightening as support for $ETH prices heading into 2026.

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December 08, 2025 at 7:56 PM
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