- BitMine Immersion Technologies increased its Ether (ETH) holdings by 110,288 tokens recently, raising its total to over 3.5 million ETH.
- The purchase represents a 34% rise in weekly buying activity and brings BitMine’s stake to about 2.9% of the total ETH supply.
- BitMine values its ETH treasury at approximately $12.5 billion, with an average purchase price of $3,639 per token as reported here.
- Chairman Tom Lee discussed the growing interest from Wall Street in blockchain asset tokenization and forecasted Ethereum’s importance in the next decade.
- BitMine’s stock, BMNR, surged over 400% year-to-date, trading at $41.15 recently.
BitMine Immersion Technologies continued expanding its digital treasury by purchasing 110,288 Ether (ETH) on Monday. This acquisition marks a 34% increase in Ether buying compared to the previous week. The purchase boosted BitMine’s total holdings to 3,505,723 ETH at an average price of $3,639 per token.
The total value of BitMine’s Ethereum holdings is near $12.5 billion. The company aims to hold 5% of the total Ethereum supply, which amounts to 120,696,594 ETH. With the recent purchase, BitMine’s share now stands at approximately 2.9%.
Tom Lee, chairman of BitMine and co-founder of financial research firm Fundstrat, highlighted the appeal of the recent ETH price drop. He stated that the dip created an attractive buying opportunity. Lee also emphasized the trend of asset tokenization on the blockchain by Wall Street, saying, “To me, it is evident that Wall Street is very interested in tokenizing assets onto the blockchain, creating greater transparency and unlocking new value for issuers and investors. This is the key fundamental story and supports our view that Ethereum is a super cycle story over the next decade.”
Ethereum is a blockchain-based platform supporting smart contracts and decentralized applications. Currently, ETH trades at roughly $3,561, down 13.4% over the past two weeks and 4.7% over the last month. To reach the $10,000 price target suggested by Lee for the end of 2025, ETH would need to increase by about 180%.
In the stock market, BitMine’s shares (BMNR) climbed over 400% so far in 2025, trading at $41.15 at the time of writing. Initially a cryptocurrency mining company, BitMine has transformed into the largest Ethereum treasury holder. Further company details and announcements are available here and on their official X account.
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