Tom Lee's BitMine Keeps Buying Ethereum, Adding $320 Million to ETH Treasury

Publicly traded Ethereum treasury steadfast BitMine Immersion Technologies (BMNR) added different 102,259 ETH valued astir $320 cardinal successful the past week, the steadfast announced connected Monday. 

The steadfast present holds 3,967,210 ETH, valued astatine much than $12.4 cardinal successful ETH. It besides holds 193 BTC worthy astir $17 million, and has $1 cardinal successful cash. 

“BitMine continues to adhd steadily to its ETH holdings, adding 102,259 ETH successful the past week. Crypto prices person stabilized successful the past week, further grounds that crypto prices person begun to retrieve aft the terms daze of October 10th,” said BitMine Chairman Tom Lee, successful a statement.

"2025 saw galore affirmative developments successful integer assets including affirmative authorities passed by the U.S. Congress and favorable regulations, and by strengthening enactment from Wall Street,” helium continued. “These fortify our condemnation that the champion days for crypto are up and wherefore we proceed to accumulate ETH towards our 'alchemy of 5%' target."

BitMine’s latest acquisition continues an assertive drawstring of purchases successful which the steadfast has added to its presumption arsenic the leading ETH treasury firm, amid wobbling ETH prices. 

Ethereum Has Bottomed, Says BitMine Chairman Tom Lee—Here's Why

In the firm’s erstwhile purchase, disclosed past week, it bought astir $429 cardinal of ETH—its largest acquisition since October.

According to Lee, the steadfast is putting “its wealth wherever its rima is,” adding that BitMine believes that ETH has already bottomed for the year. In different words, Lee and his steadfast deliberation that Ethereum has already deed its lowest terms constituent this year.

Beyond buying ETH, the steadfast is besides making advancement connected a bespoke staking solution called The Made successful America Validator Network (MAVAN), which volition let it to gain output connected its holdings.

In a caller video interrogation with Farokh Sarmad—president of Dastan, Decrypt’s genitor company—Lee noted that the steadfast could marque arsenic much arsenic $400 cardinal successful staking revenue annually from its holdings. 

Shares of BMNR are down astir 7% since the opening doorbell connected Monday, precocious changing hands astatine $32.48. Since hitting a yearly highest of $161 connected June 30, BMNR shares person present dropped astir 80%. 

ETH is down much than 2% successful the past 24 hours, precocious trading hands astatine $3,010.