BitMine Immersion Technologies has significantly accelerated its Ethereum accumulation strategy, increasing its weekly purchases by 34% to capitalize on recent market prices. This aggressive move solidifies its position as the world’s leading corporate Ethereum treasury and signals strong institutional conviction in the asset’s long-term value.
A Deliberate Acceleration in Accumulation
In the week ending November 9, 2025, BitMine purchased 110,288 ETH, a substantial increase from the 82,353 ETH it acquired the previous week. Chairman Tom Lee explicitly stated this accelerated buying was a tactical decision, noting that “the recent dip in ETH prices presented an attractive opportunity” for the company.
This buying spree has pushed BitMine’s total holdings to 3.5 million ETH, a stake worth approximately $12.7 billion and representing about 2.9% of Ethereum’s total circulating supply. The company has now passed the halfway mark toward its ambitious long-term goal, often referred to as the “alchemy of 5%”, of acquiring 5% of all ETH in circulation.
Beyond ETH: A Multi-Billion Dollar Treasury
BitMine’s strategy extends beyond Ethereum. The company’s total holdings, which it categorizes as “crypto + cash + ‘moonshots'”, have reached a combined value of $13.2 billion. This vast treasury is composed of its core Ethereum position, supplemented by 192 Bitcoin (BTC), a $61 million stake in Eightco Holdings, and $398 million in unencumbered cash earmarked for future investments.
This positions BitMine as the largest institutional holder of Ethereum globally and the second-largest crypto treasury company overall, trailing only MicroStrategy and its massive Bitcoin reserves.
A Vote of Confidence in Ethereum’s Future
The aggressive accumulation is rooted in a profound belief in Ethereum’s fundamental value proposition. Lee has described Ethereum as the foundation for the “next financial super cycle”, pointing to growing Wall Street interest in blockchain technology for asset tokenization. He recently emphasized that 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 confidence is shared by other major market players. BitMine’s accelerated buying occurred alongside a broader trend of whale accumulation, with reports indicating that large entities purchased a collective $1.37 billion worth of ETH over a three-day period in early November, during which ETH prices saw a significant drop.
Market Impact and Stock Performance
BitMine’s bold strategy has not gone unnoticed by investors. Following the announcement of its latest purchases, the company’s stock (BMNR) saw a rise of more than 5%. Despite recent market volatility, BMNR has been one of the most actively traded U.S. equities, with an average daily trading volume of $1.6 billion, making it the 48th most traded stock in the country and highlighting its remarkable liquidity.
