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.
Summary
- 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.
Lee explained that regulatory developments in 2025, including the GENIUS Act and the SEC’s Project Crypto initiative, have given BitMine greater conviction in the future of digital assets.
Lee also defended the high valuations of AI companies, arguing that the current wave of “absurd” valuations is typical for industries in their exponential growth phase. He compared today’s AI boom to the internet buildout of the late 1990s, noting that while many individual stocks failed, a diversified approach to the internet sector ultimately delivered strong returns.
The long-term value in transformative technologies often emerges later in their adoption cycles, Lee remarked, suggesting that the AI sector will see similar outcomes.
Lee’s confidence extends to both Ethereum and Bitcoin. At the recent Binance Blockchain Conference in Dubai, Lee projected that Ethereum could reach $20,000 per coin in the coming years, citing anticipated growth in asset tokenization and the expansion of Ethereum’s use case beyond digital currency.
Lee also weighed in on Bitcoin’s price trajectory, stating that the traditional four-year cycle for Bitcoin has ended. He predicted that Bitcoin would establish new price highs by early 2026, driven by broader market adoption and its growing role in the global financial system. In the short term, Lee expects Bitcoin’s performance to mirror that of the S&P 500 before it reaches a major price peak.
Growing crypto exposure and stock market activity
BitMine’s increasing crypto exposure has been met with strong market activity. As of December 14, the company trades an average of roughly $1.9 billion in daily dollar volume, placing it among the 50 most actively traded U.S. equities.
This growing interest from investors aligns with BitMine’s ongoing Ethereum accumulation strategy, which is expected to continue through capital markets and treasury deployment.
Additionally, BitMine holds other strategic investments in the cryptocurrency space, including 193 BTC and a $38 million stake in Eightco Holdings. The company’s total crypto, cash, and strategic investments now total nearly $13.3 billion, with $1 billion held in cash reserves. This diversified asset base positions BitMine to weather market fluctuations while continuing to scale its operations and Ethereum accumulation.
What’s next
BitMine plans to host its annual shareholder meeting in Las Vegas on January 15, 2026. As it continues to scale its Ethereum strategy, the company will outline its roadmap for further acquisitions, staking projects, and blockchain advancements. With Ethereum staking infrastructure poised for launch and an aggressive acquisition strategy in place, BitMine is positioning itself as a key player in both the crypto and AI sectors for years to come.
