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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.
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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.
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