Tom Lee has expressed confidence that the crypto market could begin its recovery in March. This comes as tensions in the Middle East continue to heighten fears in the market. Tom Lee Predicts Bullish March for Crypto Market In a recent CNBC interview, BitMine’s Lee is still quite optimistic about the future of the market.
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Bitmine Immersion Technologies has been making a statement with its assertive accumulation and staking of Ethereum. In just a few months, the company has assembled one of the largest known ETH treasuries held by a publicly traded firm, moving steadily toward its stated ambitious goal of controlling 5% of the total Ethereum supply.
According to a recent disclosure, Bitmine is now holding about 4.17 million Ethereum (ETH) tokens, which is about 3.45% of the total circulating supply. Furthermore, the company’s total staked ETH tally has now surpassed 1.2 million tokens.
Heavy Stakes And A Clear Target
Bitmine is now the largest fresh money buyer of ETH in the world, and its string of ETH purchases has kept many Ethereum investors on the edge of their seats on how this might affect the price of the altcoin.
Bitmine Immersion has funneled about $3.9 billion worth of Ethereum into staking under the leadership of Tom Lee, a move that shows conviction in ETH’s long-term prospects and the company’s desire to generate yield for its investors. Notably, the company’s total staked ETH tally has now surpassed 1.2 million tokens, bringing it close to 70 percent of the way toward its self-proclaimed “Alchemy of 5%” target of owning 5% of all Ethereum in circulation.
Bitmine’s approach to staking is starting to be much more than passive yield. The company is preparing to launch its own Made in America Validator Network (MAVAN), which it says will be among the largest ETH staking infrastructures in the ecosystem once live.
This means Bitmine is now looking to transition from simply holding and staking Ether through third parties to becoming a staking infrastructure provider. If all of Bitmine’s staked ETH were managed through MAVAN and its partners at current rates, Ethereum staking fees could generate about $370 million for the company.
Growing The Balance Sheet To Sustain Ethereum Accumulation
Bitmine’s balance sheet extends well past its staking operations. The company now holds a diversified pool of assets spanning Bitcoin, Ethereum, other digital assets, and cash, with total holdings valued at around $14 billion, including its just over 4 million ETH.
Interestingly, the company has continued to add to its holdings in recent weeks, even as it increases its liquid cash position. The most recent purchase was of 24,266 ETH last week.
At the same time, the company made a corporate decision that it says is critical to sustaining this strategy of steadily accumulating more Ethereum tokens. Notably, Bitmine is now seeking a positive 50.1% shareholder vote to increase its authorized share count at its upcoming annual stockholder meeting scheduled for January 15, 2026.
According to the company, the current authorization of 500 million shares is close to being fully utilized, and once that limitation is reached, its ability to continue acquiring Ethereum at the current pace would slow down massively.
Featured image from Getty Images, chart from Tradingview.com
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Ethereum (ETH) is showing early signs of stabilization after a turbulent month, bouncing back above the crucial $2,800 level as fresh institutional inflows reignite optimism across the market.
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ETH currently trades near $2,821, up modestly over the past 24 hours, with traders closely watching to see whether this rebound can evolve into a sustained trend reversal. The renewed momentum follows major accumulation from BitMine, which has doubled down on its Ethereum strategy despite steep market drawdowns.
ETH's price trends to the downside on the daily chart. Source: ETHUSD on Tradingview
BitMine’s $59M ETH Accumulation Sparks Fresh Investor Confidence
The catalyst for Ethereum’s latest recovery came on November 23, when blockchain data confirmed that BitMine acquired 21,537 ETH worth roughly $59–60 million. The purchase increases the company’s total holdings to more than 3.5 million ETH, equivalent to approximately 3% of Ethereum’s circulating supply.
While Ethereum prices have fallen nearly 30% in the last month, BitMine maintains that the downturn stems from a temporary liquidity shock rather than deteriorating fundamentals.
Bitmine is simultaneously expanding its ecosystem footprint through its upcoming MAVAN staking network, expected to launch in early 2026, and recently announced a dividend issuance, moves that collectively signal long-term conviction.
Investors appear to be taking notice. Exchange reserves have dipped to multi-year lows as whales continue accumulating ETH, even as traditional ETF products face outflows. This divergence suggests deep-pocketed players view the current range as a strategic entry zone.
Ethereum Battles the Downtrend but Momentum Improves
Despite the bounce, Ethereum remains inside a steep descending channel, with resistance stacking between $2,947 and $3,000. This zone contains compressed EMAs, trendline resistance, and the upper Bollinger Band, making it the first major test for buyers.
A clean break above $3,000 could pave the way for ETH to reach $3,120, $3,250, and potentially even $3,450. However, a failure at this level may send ETH back toward $2,760 or lower.
Indicators remain mixed. The RSI near 40 signals oversold conditions, hinting that a reversal may be developing, while the MACD and moving averages still indicate lingering bearish pressure.
Rising open interest and elevated long-short ratios across exchanges reflect aggressive long positioning, momentum that could amplify volatility in either direction.
Institutional Products and Upgrades Add Momentum
Beyond price action, Ethereum continues to gain structural support. The Singapore Exchange just launched regulated ETH perpetual futures, giving institutions a compliant on-ramp. Meanwhile, anticipation builds around Ethereum’s December Fusaka upgrade, expected to deliver meaningful scalability improvements.
With whales accumulating, institutional demand rising, and network upgrades approaching, Ethereum’s rebound above $2,800 may be more than a dead-cat bounce.
Related Reading: JPMorgan Backlash Explodes: Bitcoin Supporters Push Hard For Boycott
But breaking the downtrend ultimately depends on whether buyers can reclaim the $3,000–$3,100 resistance range, a battleground that will determine the next major swing.
Cover image from ChatGPT, ETHUSD chart from Tradingview
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Earlier today, Ethereum (ETH) treasury firm BitMine Immersion Technologies (BMNR) added to its ETH holdings, as on-chain data reveals that the firm purchased another 46,225 tokens, increasing its total ETH holdings to over 2.1 million ETH.
BitMine’s Total Ethereum Holdings Surge Past 2.1 Million ETH
According to an X post by on-chain analytics account Lookonchain, BitMine seems to have further increased its total ETH holdings. Notably, the firm’s wallet added another 46,225 ETH to its total holdings, worth slightly more than $200 million.
It should be recalled that on September 8, BitMine had bought 202,500 ETH, helping it boost its total ETH holdings to more than two million for the first time ever. Eventually, the firm aims to hold 5% of the total ETH supply.
The New York Stock Exchange-listed (NYSE) firm has been on an ETH buying spree all summer. Following today’s purchase, its total ETH holdings have now surged above 2.1 million, worth approximately $9.27 billion at the time of writing.
It is worth highlighting that BitMine currently holds the largest amount of ETH among all public companies. According to data from Coingecko, SharpLink is a distant second on the list, with 837,230 ETH on its balance sheet.
Other firms like Coinbase (136,782 ETH), Bit Digital (120,306 ETH), and ETHZilla (102,246 ETH), round up the top five holders of ETH. Notably, nine out of the top ten firms holding the most amount of ETH are US-based.
Following today’s purchase, BitMine’s stock BMNR is trading at $47.85, up 4.93% on the day. On a year-to-date (YTD) basis, the stock has jumped a whopping 559%, making it one of the best performing crypto-related stocks this year.
ETH Giving Bitcoin A Run For Its Money
As an increasing number of firms embrace ETH as the digital asset of choice, attention has been steadily moving away from the largest cryptocurrency by market cap, Bitcoin (BTC). However, this does not mean that ETH has completely displaced BTC.
That said, the trend of companies choosing to add ETH to their balance sheets gained significant momentum in 2025. Yesterday, Cyprus-based firm Robin Energy announced it had bought ETH worth $5 million.
Similarly, in August, SharpLink bought another 56,533 ETH to increase its total ETH reserves. In the same vein, Jack Ma-linked Yunfeng Financial invested close to $44 million into ETH earlier this week.
ETH could see further price appreciation as staking activity on the network continues to grow at an exponential rate. At press time, ETH trades at $4,435, up 1.5% in the past 24 hours.
Featured image from Unsplash.com, charts from Coingecko, Yahoo! Finance and TradingView.com
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BitMine Immersion Technologies announced today that its Ethereum (ETH) holdings have surged past 833,000 tokens, making it the largest ETH treasury in the world. The announcement comes amid a broader trend of corporate ETH accumulation.
BitMine Becomes Largest Ethereum Treasury
According to the statement, BitMine Immersion Technologies – a leading Bitcoin (BTC) mining firm – has amassed 833,137 ETH, overtaking SharpLink Gaming to become the largest corporate holder of the digital asset.
BitMine’s holdings are currently valued at over $2.9 billion, based on an ETH price of $3,491 per token. Commenting on the development, Tom Lee, Chairman of BitMine’s Board of Directors, said:
BitMine moved with lightning speed in its pursuit of the ‘alchemy of 5%’ of ETH, growing our ETH holdings to over 833,000 from zero 35 days ago. We have separated ourselves among crypto treasury peers by both the velocity of raising crypto NAV per share and by the high liquidity of our stock.
BitMine’s ETH treasury strategy is a recent initiative, launched on June 30. In just over a month, the company has already surpassed SharpLink Gaming to become the top ETH treasury holder globally.
Data from StrategicETHReserve.xyz shows BitMine’s ETH holdings have jumped an impressive 283.1% over the past 30 days, now accounting for slightly more than 0.5% of ETH’s total circulating supply.
Following BitMine, SharpLink Gaming holds 438,200 ETH, while The Ether Machine ranks third with 334,800 ETH. Other top ETH-holding entities include The Ethereum Foundation, Coinbase, Bit Digital, and BTCS.
BitMine’s massive ETH reserves not only make it the largest Ethereum treasury, but also rank it third among all corporate crypto holders overall. Only Michael Saylor’s Strategy (formerly MicroStrategy) and MARA Holdings – both primarily Bitcoin holders – have larger reserves.
Following the announcement, BitMine shares rose 2.65%, trading at $32.52 at the time of writing. The stock is up an impressive 348% on a year-to-date basis.
More Corporates Overtake The ETH Foundation
The Ethereum Foundation was once, by far, the dominant ETH holder. However, it is now being overtaken by several corporate entities as institutional interest in Ethereum continues to grow at a rapid pace.
Last week, Ethereum-focused firm BTC Inc. announced plans to raise $2 billion to expand its crypto treasury, including ETH. Meanwhile, Ethereum yield and infrastructure firm – The Ether Machine – recently added 15,000 ETH to its balance sheet.
The rise in corporate accumulation is also reflected in exchange data – ETH reserves on centralized exchanges have dropped to a nine-year low. At press time, ETH trades at $3,648, up 0.9% in the past 24 hours.
Featured image from Unsplash.com, charts from Yahoo! Finance and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.