BitMine Immersion Boosts Ethereum Holdings by Nearly 70,000 ETH, Now Controls 3% of Supply
November 24, 2025 – BitMine Immersion Technology (BMNR), known as the largest Ethereum treasury company, has significantly increased its Ether (ETH) holdings by purchasing nearly 70,000 ETH last week. This acquisition brings its total Ether holding to approximately 3.63 million tokens, equating to around 3% of the total Ethereum supply.
The purchase, valued at about $195 million at current market prices, reflects BitMine’s ongoing confidence in Ethereum despite widespread challenges facing digital asset treasury companies. The crypto sector has been experiencing a downturn recently, with ETH prices plunging nearly 40% from an August peak and similar pressure on digital asset treasuries (DATs).
Strong Cash Position Accompanies Crypto Accumulation
Alongside increasing its crypto stash, BitMine’s reported cash reserves have grown to $800 million, an uptick of $193 million from the previous week. Altogether, the firm now manages combined assets totaling approximately $11.2 billion. These holdings include crypto assets such as Bitcoin (BTC), with a stake of 192 BTC, and shares in companies like Eightco Holdings (ORBS).
BitMine’s shares have shown some resilience by rising about 4.3% in pre-market trading concurrent with a rebound in Ethereum and broader crypto prices from recent lows. Nevertheless, the company’s stock plunged 23% last week and remains over 80% below its record high from July.
Challenges for Digital Asset Treasuries
Digital asset treasury firms face intense market pressure, with many witnessing their stock valuations dip below the net value of their underlying crypto holdings. Most DATs have paused asset accumulation or begun divesting portions of their crypto portfolios to repurchase shares and stabilize stock prices.
Despite these headwinds, BitMine stands out as one of the few to continue building its crypto portfolio. However, the company is currently sitting on approximately $4 billion in unrealized losses from its Ethereum position due to the broader market correction.
Looking Ahead
BitMine’s aggressive Ether accumulation highlights a strategic bet on Ethereum’s long-term value amid cyclical volatility. The company’s Chairman, Thomas Lee, a respected investor and Fundstrat Capital co-founder, has maintained a bullish stance on digital assets despite market troughs.
As Ethereum and other major cryptocurrencies aim to recover, the activities of large treasury holders like BitMine will remain closely watched indicators of institutional confidence in the sector.
Key Data at a Glance
- ETH acquired last week: 69,822 tokens (~$195 million)
- Total ETH holdings: 3.63 million (~3% of supply)
- Cash reserves: $800 million
- Total combined assets: $11.2 billion
- Current ETH price: approx. $2,999.61
- BMNR stock price performance: Down 23% last week; over 80% below July peak
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Article compiled with editorial oversight and AI-assisted data analysis to ensure accuracy and compliance with CoinDesk standards.