BitMine Immersion Technology (BMNR), one of the largest institutional treasury companies focused on Ethereum, has maintained its aggressive accumulation strategy despite volatility in the cryptocurrency markets.
The company purchased 102,259 Ethereum (ETH) last week, marking a new acquisition worth approximately $320 million.
With this latest transaction, BitMine's total ETH holdings have reached approximately 4 million. The company maintains its long-term strategy of controlling 5% of Ethereum's total supply.
Despite the purchase, BitMine maintained its cash position at $1 billion. The company's total assets reached $13.2 billion, including a limited Bitcoin investment and its stake in Eightco (ORBS), a digital asset treasury focused on Worldcoin.
In recent months, as pressure on crypto prices and crypto-related stocks has led many digital asset treasuries to slow or reverse their purchases, BitMine and Bitcoin-focused Strategy (MSTR) have been among the few exceptions to this trend. However, due to current market conditions, BitMine is estimated to have approximately $3 billion in unrealized losses on its ETH portfolio. Ethereum is trading roughly 36% below its record high in August.
Tom Lee, Chairman of BitMine and founder of Fundstrat, maintained his optimism for 2025. Lee stated, “2025 has been a year of many positive developments for digital assets, including favorable legislation passed by the US Congress, improvements in the regulatory framework, and increased support from Wall Street.”
Lee stated, “These developments reinforce our belief that crypto’s best days are yet to come. Therefore, we continue to accumulate to reach our 5% ETH target.”
*This is not investment advice.
