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BitMine Immersion Technologies, the ether treasury company led by Fundstrat co-founder Thomas Lee, has crossed a new milestone after another aggressive week of buying. The firm acquired 98,852 ETH as prices dipped, a haul worth about 300 million dollars at Monday’s levels. That purchase lifted BitMine’s stash to 4,066,062 ether, equal to roughly 3.37% of the current ETH supply and valued at just over 12 billion dollars.
Despite the shopping spree, BitMine left its cash buffer unchanged at around 1 billion dollars, keeping a sizable dollar reserve alongside its growing crypto pile. The company has become the largest known ether holder among publicly listed firms, even as many other corporate treasuries have slowed or reversed their digital asset buying while crypto prices cooled in recent months. BitMine has instead kept up a steady accumulation rhythm, turning market pullbacks into entry points.
Last week’s purchases landed as ETH slid from an early high near 3,170 dollars to under 2,800 dollars before rebounding above 3,000. BitMine shares responded with a sharp bounce of their own, jumping about 10% on Friday and adding another 4.5% in pre-market trading after the latest treasury update. Even so, data providers estimate the firm is still sitting on more than 3 billion dollars in unrealized losses across its ether position after the broader market’s pullback from previous peaks.
The new 300 million dollar buy was slightly smaller than the prior week’s 138,000 ETH addition, but it keeps BitMine on track toward its public goal of eventually owning 5% of the total ether supply. That target would require the firm to add roughly another 2 million ETH over time, depending on how issuance and burns evolve under Ethereum’s current monetary policy. For now, BitMine is doubling down on its role as a long term ETH accumulator, even as other treasury players trim exposure to manage debt or lock in profits.
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