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.
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
알아야 할 것:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
USDC Issuer Circle Secures Abu Dhabi's ADGM License in Middle East Expansion
The license allows Circle to expand USDC payment and settlement tools across the United Arab Emirates.
알아야 할 것:
- Circle has obtained a Financial Services Permission license from Abu Dhabi Global Market, allowing it to operate as a Money Services Provider in the UAE.
- The stablecoin issuer has appointed Dr. Saeeda Jaffar, former manager at payments firm Visa.
- The approval comes as part of the UAE's emergence as a global hub for regulated digital assets, following similar licenses granted to Binance.
Top Stories
