Bitmine Immersion Technologies has bought more Ether, believing the recent price drop might be close to finishing. They just purchased 65,341 ETH, worth around $139 million, bringing their total Ether holdings to over 4.6 million.
Summary
- Bitmine bought 65,341 ETH, lifting total holdings above 4.6 million tokens this week.
- Tom Lee said Ether’s mini-crypto winter may be nearing its final stage now.
- Bitmine is nearing its goal of owning 5% of Ether’s circulating supply.
Bitmine has been increasing its purchases over the last three weeks. According to Lee, the company believes Ether is nearing the end of a short period of low prices – a ‘mini-crypto winter’ – following several months of difficulties in the digital currency market.
Bitmine recently purchased an additional 65,341 ETH, increasing its total Ether holdings to approximately 4.661 million as of March 23rd.
Lee highlighted positive signs for cryptocurrency, citing both new policies and market trends. He specifically mentioned the CLARITY Act’s progress and the resilience of cryptocurrencies like Ether during recent global events as reasons for his optimistic outlook, as stated in a company release.
Company moves closer to 5% Ether supply target
Bitmine currently holds Ether tokens representing about 3.86% of all Ether in circulation. With roughly 120.69 million Ether tokens available, the company aims to eventually hold 5%.
To achieve its objective with the current amount of Ethereum available, Bitmine would need approximately 1.37 million more ETH. Considering prices around $2,156, this would translate to about $3 billion in further investment.
The amount of Ether available isn’t set in stone. It can increase or decrease based on how new Ether is created and how much is destroyed, meaning the total amount needed to represent 5% also fluctuates.
Staking remains part of the strategy
Bitmine has staked over 3 million Ether, meaning they’re both growing their Ether holdings and actively participating in Ethereum’s system for validating transactions and earning rewards.
The company’s balance sheet also shows it holds around $1.1 billion in cash, as well as 196 Bitcoin, a $200 million investment in Beast Industries, and a $95 million investment in Eightco Holdings.
Bitmine has become a major holder of Ether, one of the largest among companies. Public data on strategic ETH reserves shows Bitmine holds significantly more Ether than other companies like SharpLink Gaming and Ether Machine.
This recent company decision is part of a growing trend from 2025, where many businesses began investing in cryptocurrency as part of their financial strategies.
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2026-03-24 13:02