Tom Lee Doubles Down on Ethereum, Adds $320M Despite Market Volatility
Even as crypto markets remain choppy, BitMine Immersion Technologies—led by longtime crypto bull Tom Lee—is pushing ahead with one of the boldest Ethereum accumulation strategies in the industry.
Last week alone, BitMine added 102,259 ETH, worth roughly $320 million, to its treasury. The purchase further cements the company’s position as one of the largest corporate holders of Ethereum globally, signaling strong long-term conviction despite recent price weakness.
In Brief
BitMine added 102,259 ETH, valued at about $320 million, in a single week.
The company now holds roughly 3.97 million ETH, close to 3.2% of Ethereum’s total supply.
BitMine is targeting ownership of 5% of all ETH in circulation.
Despite the accumulation, BitMine’s stock (BMNR) is down about 80% from its June 2025 peak.
A High-Conviction Bet on Ethereum
The latest purchase follows a $70 million ETH investment announced just weeks earlier. With nearly 3.97 million ETH now on its balance sheet, BitMine is edging closer to its ambitious goal of holding 5% of Ethereum’s total supply.
The move hasn’t come without pressure. BitMine shares fell another 7% in the past 24 hours, extending a sharp decline that has seen the stock lose around 80% since June 2025. Still, Tom Lee appears unfazed, signaling confidence that Ethereum may have already found its yearly low.
BitMine’s total treasury is now valued at $13.3 billion, including around $1 billion in cash and 193 BTC. The company is also preparing to launch its staking platform, MAVAN, in 2026—a move that management believes could generate up to $400 million in annual revenue.
Why BitMine Is Betting Big on ETH
BitMine’s aggressive accumulation reflects a broader thesis around Ethereum’s growing institutional appeal. The company points to a more favorable US regulatory environment in 2025, alongside stabilizing prices following October’s market shock.
While ETH slipped about 2% over the past 24 hours, BitMine’s strategy is clearly long-term. By amassing such a large stake, the firm is positioning itself as a central player in the Ethereum ecosystem—one that could benefit from staking rewards, network growth, and rising institutional demand.
Ethereum’s Growing Institutional Pull
Ethereum continues to post technical milestones, including record throughput of 34,468 transactions per second, highlighting its scalability and efficiency. Those advances have drawn attention from major Wall Street players such as BlackRock and Fidelity, alongside growing inflows into Ethereum-focused ETFs.
Often described as the “digital oil” powering Web3, Ethereum underpins smart contracts, decentralized finance, and a growing range of real-world applications. Some analysts even suggest ETH could challenge Bitcoin’s market dominance in 2026.
Visionary or Risky?
BitMine’s strategy raises a familiar question in crypto markets: is this a visionary long-term play or a high-stakes gamble? With Ethereum adoption accelerating and technical performance improving, the bet may yet pay off. But as ever in crypto, the path forward remains uncertain.
For now, Tom Lee and BitMine are making their stance clear—when it comes to Ethereum, they’re not just buying the dip. They’re building a treasury around it.
