BitMine Boosts ETH Holdings With New $112M Purchase in Ongoing Run

BitMine Immersion Technologies executed another major Ethereum purchase on December 11, 2025. The company acquired 33,504 ETH. The transaction was valued at approximately $112 million.

The transaction occurred through FalconX in two separate purchases. The company has established itself as the world’s largest corporate Ethereum holder. This growth has come under the leadership of Wall Street veteran Tom Lee.

BitMine Purchases 33,504 ETH Through FalconX

The December 11 acquisition consisted of two transactions processed through FalconX, a crypto liquidity provider.

BitMine has consistently used major crypto liquidity providers for its purchases. Previous acquisitions have been executed through Coinbase Prime, FalconX, and Galaxy Digital to minimize market impact.

The company maintains approximately $1 billion in cash reserves as of December 2025. This war chest allows BitMine to capitalize opportunistically on market dips and maintain its aggressive purchasing schedule.

Tom Lee, co-founder of Fundstrat and chairman of BitMine, has stated this view clearly. He says the company sees Ethereum as the backbone and architecture of the stablecoin market.

Weekly Ethereum Accumulation Pace Surges 156%

BitMine’s purchasing pace has accelerated in recent weeks. In the week ending December 8, the company acquired 138,452 ETH worth approximately $435 million.

The weekly acquisition is a 156% increase compared to the pace from four weeks prior. The surge in buying activity has increased BitMine’s holdings sharply. The company’s total rose from about 3.08 million ETH in late November to 3.9 million ETH by mid‑December.

Lee attributed the accelerated purchases to anticipated catalysts. This includes the Fusaka upgrade, expected Federal Reserve interest rate reductions, and the conclusion of quantitative tightening.

Substantial capital raises have aided the aggressive accumulation strategy. In August 2025, BitMine filed to increase its at-the-market stock sale capacity to $24.5 billion. This provided the funding for continued purchases.

BitMine Now Holds 3.9 Million ETH

Total crypto and cash holdings at BitMine reached approximately $13.2 billion as of December 11. The company’s Ethereum position alone is one of the largest cryptocurrency treasuries ever assembled by a publicly traded firm.

The 3.2% stake in Ethereum’s circulating supply exceeds the holdings of most institutional crypto treasuries. BitMine’s position is larger than the ETH holdings managed by major investment firms.

The company’s transition from Bitcoin mining to Ethereum accumulation began in late June 2025. The first treasury purchase occurred on June 9, 2025. A $250 million private capital raise finalized on June 30 followed this.

Tom Lee’s “Alchemy of 5%” Strategy Targets 5% of Ethereum Supply

BitMine’s stated goal is to accumulate 5% of Ethereum’s total circulating supply through its “Alchemy of 5%” initiative. Reaching this target would require approximately 6 million ETH total, or roughly $27 billion at current prices.

With 3.2% already secured, the company is approximately 64% of the way to its goal. BitMine is accumulating more than 100,000 ETH per week in December. At this pace, the company could reach its 5% target within 12–18 months.

The timeline depends on sustained capital raises and market conditions. The company plans to stake its ETH holdings, generating approximately 4.5% annual yield.

Ethereum Price Faces Rejection at $3,400

Ethereum experienced a rejection from the $3,400 resistance level in recent trading. The rejection has pushed ETH lower, with the next support zone around $3,000-$3,100.

Analyst Ted noted that a bounce from the $3,000-$3,100 support zone will result in another strong rally. Failure to hold the support zone will dump ETH toward the $2,800 level.

Price performance shows Ethereum down 4.5% in the last 24 hours. The seven-day performance stands at -0.1%, while the 14-day period shows a gain of 5.6%.

The 30-day performance sits at -10.1%, with the one-year return showing a decline of 13.4%.