BitMine Immersion Technology (BMNR), the largest Ethereum treasury firm, has continued its acquisitions, purchasing 102,259 ether over the past week, totaling approximately $320 million at current prices.
The latest purchase, reported on Monday, increased the firm’s holdings to nearly 4 million tokens, with an aim to secure 5% of ether’s total supply. Their cash reserves remain stable at $1 billion, while total holdings — which also include a small amount of bitcoin and a stake in Worldcoin-focused digital asset treasury Eightco (ORBS) — totaled $13.2 billion.
While most digital asset treasuries have paused or reversed their accumulation as token prices and equity evaluations faced issues in recent months, BitMine and bitcoin-focused Strategy (MSTR) are notable exceptions, continuing to expand their holdings through the downturn. Nevertheless, BitMine is estimated to be holding about $3 billion in unrealized losses on its ETH investments, as the second-largest cryptocurrency now trades 36% below its peak in August.
“2025 has witnessed numerous positive advancements in digital assets,” remarked chairman Thomas Lee, founder of analytics firm Fundstrat, “including beneficial legislation by the US Congress and welcoming regulations, along with increasing backing from Wall Street.”
“These factors enhance our belief that the brightest days for crypto lie ahead and explain our continued accumulation of ETH towards our ‘alchemy of 5%’ goal,” he emphasized.
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