Largest Ethereum-focused treasury increases holdings to 3.86 million ETH as macro and network upgrades drive confidence
BitMine Immersion Technologies has sharply intensified its Ethereum accumulation strategy, purchasing 138,452 ETH in the past week. The acquisition, valued at approximately $435 million, represents the firm’s largest weekly haul in more than a month and strengthens its position as the leading corporate holder of ether.
BitMine Expands Ethereum Treasury
With its latest purchase, BitMine’s total holdings have climbed to 3.86 million ETH, giving the firm control of more than 3.2% of Ethereum’s circulating supply. The new accumulation marks a 156% increase from activity four weeks earlier, when the firm added about 54,000 tokens.
The company also expanded its cash reserves to $1 billion, up from $882 million the previous week. In combination with its modest bitcoin position and equity stake in Eightco Holdings, BitMine now manages $13.2 billion in digital assets and cash.
Strategic Buying Driven by Network Upgrades and Macro Shifts
Chairman Thomas Lee said BitMine accelerated accumulation following Ethereum’s Fusaka upgrade on December 3, which implemented improvements to network scalability and security. He also highlighted broader macroeconomic catalysts, including the U.S. Federal Reserve’s expected interest rate cut and the anticipated end of quantitative tightening, as factors supporting a stronger ETH market heading into 2026.
Lee reaffirmed his long-term outlook in a statement titled “The Crypto Supercycle Is Intact,” arguing that rising adoption and increasing tokenization demand will continue to drive value.
BitMine’s stock climbed 3.8% in pre-market trading, while ETH recovered modestly over the weekend. Unlike other digital-asset treasuries that have slowed acquisitions amid market pressure, BitMine continues to ramp up buying—even as it sits on nearly $3 billion in unrealized losses from earlier purchases.
The firm’s aggressive strategy positions it as a significant force in the Ethereum ecosystem, signaling conviction in the asset despite short-term volatility.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.