In a move that can only be described as “bold” (or possibly “utterly insane,” depending on your perspective), BitMine Immersion Technologies, the Nasdaq-listed crypto treasury firm led by the ever-optimistic Tom Lee, just splurged on 14,618 ETH. That’s around $44.34 million in digital gold. 🍾💸
What Exactly Did They Buy? (You Might Want to Sit Down)
- BitMine grabbed 14,618 ETH via BitGo, at a rather eye-watering average price of $3,033 per coin. 🤯
- They now hold a modest 3.63 million ETH-around 3% of the total Ethereum supply, so basically they own a tiny chunk of the entire Ethereum planet. 🌍
- And of course, they’ve set their sights on a lofty 5% target. Ambitious, right? Who wouldn’t want to own more of something that’s so… volatile? 🤔
This latest ETH-buying spree went through BitGo, an institutional custodian (which sounds very serious, right?), and was done at an average price of $3,033 per coin, as per blockchain analytics platforms. Oh, and did we mention Ethereum was recently recovering from a bit of a rough patch, flirting with a low of $2,680? Talk about timing! ⏱️
BitMine’s relentless buying spree underscores its unwavering belief that Ethereum is a long-term business asset. Because, you know, who wouldn’t want to lock in thousands of dollars of crypto, hoping the market doesn’t decide to throw a tantrum? 💀
Big Corporate ETH Holdings and Market Position
After this latest purchase, BitMine now owns a cool 3.63 million ETH, which is roughly 3% of Ethereum’s total supply, putting it comfortably over the $10 billion mark. Not bad for a company that’s well on its way to its goal of owning 5% of the circulating ETH supply. Because why aim small when you can shoot for the moon? 🚀🌕
Tom Lee(@fundstrat)’s #Bitmine just bought another
14,618 $ETH($44.34M) 4 hours ago.– Lookonchain (@lookonchain) November 28, 2025
Oh, and let’s not forget: 68 corporate entities together hold a total of 6.36 million ETH, or 5.26% of all the coins. BitMine is clearly flexing its Ethereum muscles. 💪 But with a market net asset value (mNAV) of 0.80, BitMine’s ETH stash is apparently trading at a 20% discount compared to its true value. Sounds like some very savvy shopping-or maybe just a case of “market uncertainty.” 😅
Future Plans: Where Do They Go from Here?
In early 2025, BitMine decided to wave goodbye to Bitcoin mining and refocus its efforts on building an Ethereum-based treasury. To make this dream a reality, the company raised more than $7 billion (yes, billion) by issuing new shares and funneled that into accumulating more ETH. 🤑
But that’s not all! They’re also developing the “Made in America Validator Network,” which is set to pilot in 2026. This network will allow BitMine to stake its own ETH, ensuring it can actively participate in securing the Ethereum network. Because who doesn’t want to be a part of securing the very network they’re hoarding coins on? 🔐
BitMine’s latest purchase solidifies its position as the largest corporate holder of Ethereum. It’s like the Michael Saylor of the ETH world, only with slightly less Bitcoin and a bit more “I own all the Ethereum” vibes. 🏆
Analysts are speculating that moves like BitMine’s could trigger a corporate-led ETH “supercycle,” where staking rewards and more corporate participation could drive the value up. But of course, this is crypto, so who knows? 📈
Read More
- Stephen King’s Four Past Midnight Could Be His Next Great Horror Anthology
- LSETH PREDICTION. LSETH cryptocurrency
- LTC PREDICTION. LTC cryptocurrency
- Mark Wahlberg Battles a ‘Game of Thrones’ Star in Apple’s Explosive New Action Sequel
- Clash Royale codes (November 2025)
- SPX PREDICTION. SPX cryptocurrency
- LINK PREDICTION. LINK cryptocurrency
- Top Disney Brass Told Bob Iger Not to Handle Jimmy Kimmel Live This Way. What Else Is Reportedly Going On Behind The Scenes
- GBP CHF PREDICTION
- Where Winds Meet: Best Controller Settings
2025-11-28 10:19