The largest Ethereum finance company, BitMine Immersion Technology (BMNR), continues its spree, purchasing 102,259 Ethereum coins As of last week, it was worth about $320 million at recent prices.
The latest acquisition, reported on Monday, brings the company’s reserves to nearly 4 million tokens and aims to monopolize 5% of the ether supply. The company held its cash holdings steady at $1 billion, while its total holdings (including a small amount of Bitcoin) WorldCoin-focused digital asset library Eight Inc. (ORBS) has a stack and stake value of $13.2 billion.
The accumulation of most digital asset treasuries has slowed or reversed as token prices and stock valuations have come under pressure over the past few months. There are only a few exceptions, such as BitMine and Bitcoin-centric strategies (MSTR) that have continued to accumulate positions during the correction. However, BitMine’s unrealized losses on ETH holdings are estimated to be around $3 billion, as the second-largest cryptocurrency trades 36% below its all-time high in August.
“There are many positive developments for digital assets in 2025, including positive legislation and favorable regulations passed by the U.S. Congress and increased support from Wall Street,” said Thomas Lee, founder and chairman of analyst firm Fundstrat.
He added: “These reinforce our belief that crypto’s best days are ahead and are the reason we continue to accumulate ETH towards our ‘5% Alchemy’ goal.”
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