BMNR Stock Shoots 8% As Tom Lee’s Firm Buys Another 41,946 ETH

On December 4, the BMNR stock shot up by 8%, moving past $36. This comes as the Tom Lee firm reportedly purchased another 41,946 ETH, for an investment of $130 million. Since the start of this month, the company has been on a heavy buying spree again.

BMNR Stock Draws Attention With 20% Upside

Tom Lee’s Bitmine Immersion Technologies has continued to accumulate Ethereum at an unmatched pace. Since the beginning of December 2025, the BMNR stock has surged more than 20% from the lows of under $30.

On-chain data shows that two newly created wallets executed major withdrawals yesterday. These wallets pulled a total of $92 million in ETH from Kraken and $58 million in ETH from BitGo.

On-chain analysts noted that the movement closely resembles past accumulation patterns associated with Bitmine-linked purchases.

Another data from Arkham Intelligence, yet another purchase from Tom Lee’s firm. Some hours before, Bitmine made yet another purchase, acquiring 41,946 ETH worth approximately $130.78 million.

Following the latest speed of purchase, Bitmine Technologies already holds above 3% of the overall Ethereum supply. This shows that the Tom Lee firm is on track to hit its 5% target.

BMNR Stock Rallies on Strong Financial Results

Earlier on December 1, Tom Lee’s Bitmine reported its full-year 2025 financial results. The company clocked a net profit of $328 million, compared with a $3.29 million net loss in the prior year.

The company said revenue surged 84% to $6.09 billion, up from $3.31 billion year-on-year. Bitmine declared a $0.01 annual dividend for common shareholders of record on December 5. The payout will be made on December 29, 2025.

These factors have also contributed to a strong upside in the BMNR stock price. Cathie Wood’s Ark Investments has been one of the biggest purchasers of BMNR stock.

As of late November 2025, Ark’s funds held more than 6.8 million shares of BMNR, with a market value of nearly $260 million. Bitmine represents a significant position in the firm’s portfolio, roughly 1.96% of total assets.

Additionally, the aggressive Ethereum accumulation has also led to a strong upside in the ETH price. From the lows of $2,750 earlier this week, the Ethereum price has surged more than 15%. It is currently flirting with $3,200.

Tom Lee Sees Ethereum Price At $62,000

While recently speaking at the ongoing Binance Blockchain conference, Tom Lee said:

Lee said Ethereum’s current market structure mirrors its earlier multi-year accumulation phase. He added, “The bigger the base, the bigger the breakout.”

Lee observed that Ethereum has been building a base for several years. He compared it to the setup before its surge from $90 to $4,866. If the historical pattern repeats, he suggested the next major upward move could be significantly larger.

The long-term outlook seems extremely positive for ETH. However, investors are looking for what’s in the short term. Crypto expert Ardi said that as long as the ETH price holds above $3,150, the short-term outlook is bullish.

The asset is now trading in a tight range between that support and a dense liquidation zone near $3,250.

According to the analyst, a large concentration of short interest sits at the $3,250 level. This creates a “magnet effect” that draws the price upward while also generating supply resistance. He noted that ETH appears to be absorbing this supply overhang.

Ardi added that a close above $3,250 could trigger a strong short squeeze. It could further lead to an ETH price rally to $3,850.