Share this article
Tom Lee's BitMine Immersion Acquires Additional $300M in Ether, Bringing Holdings to $13.7B
The company's 3.4 million of ETH tokens represents just shy of 3% of the total supply.
Updated Nov 3, 2025, 3:33 p.m. Published Nov 3, 2025, 2:38 p.m.
Make us preferred on Google
What to know:
- BitMine Immersion Technologies increased its ether holdings to nearly 3.4 million tokens, representing 2.8% of the total supply.
- The company's total crypto, cash, and equity holdings are now valued at $13.7 billion.
- BitMine's acquisition comes amid a challenging period for digital asset treasuries, with many firms' stock struggling to maintain their asset values and pivoting to buyback.
BitMine Immersion Technologies (BMNR), the Ethereum-centric treasury firm led by Fundstrat’s Thomas Lee, bought 82,353 ether through last week, worth roughly $306 million at early Monday prices, lifting its total holdings to 3.4 million tokens, the company reported on Monday.
BMNR is lower by 5.7% in early Monday trading alongside a sizable late weekend and Monday drop in the crypto prices, with ETH lower by 3.5% over the past 24 hours to $3,715.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The company said it also boosted its unencumbered cash holdings to $389 million, up from $305 million a week ago. The combined value of BitMine’s crypto, cash and equity stakes now totals $13.7 billion, according to the press release, including a $62 million position in Eightco Holdings and a 192 bitcoin in total.
The move brings BitMine’s share of the ETH supply to 2.8%, worth roughly $13.3 billion at current prices as part of a long-term strategy to acquire 5% of the token’s supply.
"We’re now more than halfway to our goal," said Lee in a statement.
The acquisition happened while many digital asset treasuries saw their share prices plummet over the past few months, struggling to raise cash and pursue their mandate to accumulate cryptocurrencies. Some entities, such as ETHZilla and Brazil’s OranjeBTC, pivoted to buy back shares as their stock price fell below the net asset value of their underlying holdings.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Coinbase CEO says Big banks now view crypto as an ‘existential’ threat to their business
Brian Armstrong returns from World Economic Forum with message: traditional finance is taking crypto seriously
What to know:
- Coinbase CEO Brian Armstrong said a top executive at one of the world’s 10 largest banks told him crypto is now the bank’s “number one priority” and an “existential” issue.
- At Davos, Armstrong highlighted tokenization of assets and stablecoins as major themes, arguing they could broaden access to investments for billions while threatening to bypass traditional banks.
- He described the Trump administration as the most crypto-forward government globally, backing efforts like the CLARITY Act, and predicted that AI agents will increasingly use stablecoins for payments outside conventional banking rails.
Top Stories
