BitMine Immersion Technologies Inc. has strengthened its position in the digital asset space with the purchase of over 102,000 Ethereum, as co-founder Tom Lee insists the company's long-term strategy is sound despite market volatility.
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- The acquisition brings BitMine's Ethereum holdings to approximately 3.97 million ETH (worth $12.2 billion) and puts the company on track to achieve its goal of acquiring 5% of the total supply of the Ethereum network.
- Lee, who is also BitMine's chairman, expressed confidence in the digital asset market, citing upcoming regulatory developments and his belief in the long-term potential of AI and blockchain technology.
- While expanding its crypto assets, the company is also preparing to launch its own Ethereum staking network in 2026. In parallel with these developments, Bitmine's stock price has skyrocketed, with an average daily trading volume of $1.9 billion as it continues to grow its presence in the cryptocurrency and AI space.
BitMine’s total ETH holdings are currently 3.97 million ETH.
At current prices, the company's Ethereum assets are worth approximately $12.2 billion. With this acquisition, BitMine now controls over 3.2% of Ethereum's total supply and is on track to achieve its goal of owning 5% of the network's tokens.
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Ethereum Treasury is at the core of the strategy
The growth of the company's Ethereum treasury has made Bitmine the largest holder of ETH among publicly traded companies and second only to Michael Saylor's MicroStrategy (NASDAQ: MSTR) in terms of global crypto reserves.
BitMine's move to accumulate Ethereum marks a major shift towards treating cryptocurrencies as a cornerstone of corporate strategy.
In addition to this, BitMine is also promoting its own Ethereum staking infrastructure, the “Made in America Validator Network,” scheduled to launch in early 2026. This development further highlights the company's commitment to becoming a central player in the Ethereum ecosystem.
In a recent show, Prof G PodcastLee, co-founder of Fundstrat Global Advisors and chairman of BitMine, offered a bullish outlook for both artificial intelligence (AI) and blockchain technology.
Lee explained that regulatory developments in 2025, including the GENIUS Act and the SEC's Project Crypto initiative, have given BitMine greater confidence about the future of digital assets.
Lee also defended AI companies' high valuations, arguing that the current wave of “exorbitant” valuations is typical of an industry in an exponential growth phase. He compared today's AI boom to the development of the Internet in the late 1990s, noting that while many individual stocks failed, a diversified approach to the Internet space ultimately yielded big profits.
Lee said the long-term value of innovative technologies often emerges later in their adoption cycle, suggesting similar results could be achieved in the AI sector.
Lee's faith extends to both Ethereum and Bitcoin. At the recent Binance Blockchain Conference in Dubai, Lee predicted that Ethereum could reach $20,000 per coin in the next few years, citing the expected growth in asset tokenization and the expansion of Ethereum's use cases beyond digital currencies.
Mr. Lee also addressed Bitcoin's price trend, saying that Bitcoin's traditional four-year cycle is over. He predicted that Bitcoin will hit a new price high by early 2026 due to its growing market penetration and Bitcoin's 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.
Rising crypto exposure and stock market activity
BitMine's increased crypto exposure has been met with strong market activity. As of Dec. 14, the company's daily trading volume averaged about $1.9 billion, making it among the 50 most actively traded U.S. stocks.
This increased interest from investors is consistent with BitMine's ongoing Ethereum accumulation strategy, which is expected to continue through capital markets and Treasury developments.
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 currently amount to approximately $13.3 billion, of which $1 billion is held in cash reserves. This diversified asset base positions BitMine to withstand market fluctuations while continuing to grow its business and Ethereum accumulation.
what's next
BitMine plans to hold its annual meeting of shareholders on January 15, 2026 in Las Vegas. As the company continues to expand its Ethereum strategy, it plans to outline further acquisitions, staking projects, and a roadmap for blockchain advancements.
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