BitMine Acquires $320 Million in Ethereum, Expanding Treasury to Nearly 4 Million Tokens
BitMine, led by Thomas Lee, added another $201 million in ETH within 24 hours, intensifying its push toward owning 5% of the cryptocurrency’s supply.
BTC
ETH
Summary
BitMine Immersion Technology purchased 67,886 ether valued at approximately $201 million over a 24-hour period on December 24, according to Lookonchain. This latest buy forms part of the firm's plan to own 5% of ETH’s circulating supply. Before this acquisition, BitMine held 4,066,062 ETH worth $12.42 billion, representing 3.37% of the total supply, along with 193 BTC, $32 million in Eightco Holdings, and $1 billion in cash. The company continues expanding its digital asset portfolio despite facing an estimated $3 billion in unrealized losses from ETH’s price drop since August 2025.
Terms & Concepts
- Ethereum (ETH): A blockchain platform enabling decentralized applications and smart contracts, with its native cryptocurrency called Ether.
- Treasury Holdings: Digital assets or funds held by a company for strategic or operational purposes, often as part of investment reserves.
- Unrealized Losses: A reduction in the value of held assets that have not yet been sold, based on current market prices.