BitMine by Tom Lee buys US$ 320 million in Ethereum

Source: PortaldoBitcoin Original Title: BitMine, by Tom Lee, buys $320 million in Ethereum Original Link: A BitMine Immersion Technologies, a publicly traded Ethereum treasury company, added another 102,259 ETH, valued at approximately $320 million, last week, according to a statement on Monday (15).

The company now holds 3,967,210 ETH, valued at over $12.4 billion. It also holds 193 Bitcoin, valued at around $17 million, and has $1 billion in cash.

“BitMine continues to steadily increase its ETH reserves, adding 102,259 ETH last week. Cryptocurrency prices stabilized last week, which is further evidence that crypto prices are beginning to recover after the October 10 price shock,” said BitMine president Tom Lee in a statement.

“2025 has witnessed many positive developments in digital assets, including favorable legislation passed by the US Congress and positive regulations, along with strengthening Wall Street support,” he continued. “This reinforces our conviction that the best days for cryptocurrencies are still ahead, and that’s why we continue to accumulate ETH toward our ‘alchemy of 5%’ goal.”

BitMine’s latest acquisition continues an aggressive buying spree, consolidating its position as the leading ETH treasury company amid cryptocurrency price volatility.

In the previous purchase, announced last week, the company acquired approximately $429 million worth of ETH — its largest acquisition since October.

According to Lee, the company is “investing where it believes,” adding that BitMine believes ETH has already hit its bottom for the year. In other words, Lee and his company believe Ethereum has already reached its lowest price this year.

In addition to buying ETH, the company is also progressing in developing a custom staking solution called The Made in America Validator Network (MAVAN), which will allow earning yields on its holdings.

In a recent video interview with Farokh Sarmad, president of Dastan, Lee noted that the company could generate up to $400 million annually from staking its holdings.

BMNR shares fell nearly 7% since the market opened on Monday and were recently trading at $32.48. Since reaching its 2023 high of $161 on June 30, BMNR shares have fallen nearly 80%.

ETH dropped more than 3.5% in the last 24 hours, recently trading at $2,986.