BitMine Immersion Accelerates Ether Accumulation, Now Holds Over 3% of Circulating Supply
BitMine Immersion Technologies (BMNR), the publicly traded, ETH-focused digital asset treasury firm, has significantly accelerated its Ether (ETH) accumulation, cementing its position as the largest institutional holder of the asset globally. According to the company’s latest public disclosure on Monday, December 8, 2025, BitMine now holds over 3.86 million ETH tokens, which equates to more than 3.2% of ETH’s total circulating supply. This aggressive purchaseing spree comes despite a period of market volatility, signaling strong long-term conviction in the asset’s future utility and price appreciation by the firm’s leadership.
Massive Weekly Purchase Accelerates Pace
The report highlighted a substantial weekly acquisition pace. In the week leading up to December 7, 2025, BitMine purchased 138,452 ETH tokens, valued at approximately $435 million at the then-prevailing ETH price of about $3,139. This purchase represented a 156% increase compared to its weekly acquisition rate from four weeks prior. The accelerated purchaseing underscores the company’s strategy of capitalizing on market dips to reach its ambitious goal of acquiring a 5% ownership stake in the total ETH supply, a target Chairman Thomas Lee refers to as the “alchemy of 5%.” The total value of BitMine’s crypto and cash holdings has now reached approximately $13.2 billion, including its massive Ether treasury, 193 BTC, and $1.0 billion in cash reserves.
Strategic Rationale and Future Plans
BitMine’s management attributes the stepped-up purchaseing activity to several positive catalysts in the ETH ecosystem. Chairman Lee specifically cited the recent successful Fusaka upgrade to the ETH network, completed on December 3, which he noted delivered tangible improvements in network scalability and security. Furthermore, Lee expressed confidence that the anticipated easing of monetary policy by the Federal Reserve, combined with growing institutional adoption and the trend of Wall Street tokenizing assets onto the blockchain, will drive ETH prices higher in 2026. The firm’s long-term strategy extends beyond merely holding the asset; BitMine is actively developing the Made-in-America Block confirmer Network (MAVAN), a dedicated, secure staking infrastructure. This network is planned for deployment in ahead 2026, which will allow the company to generate recurring staking yield revenue from its massive Ether holdings, transforming its treasury into an active, income-generating asset. BitMine remains the second-largest global crypto treasury overall, trailing only Strategy Inc. (MSTR), which focuses on BTC. The company’s stock (BMNR) continues to be highly volatile but remains one of the most actively traded stocks in the U.S., often viewed by traders as a leveraged proxy for the performance of Ether.
