Bitmine Immersion accelerates ETH accumulation with $354.6M purchase
Bitmine Immersion has added 78,791 ETH to its treasury, bringing the total holdings to nearly 1.8 million ETH.
- Bitmine Immersion spent $354.6 million to acquire 78,791 ETH, raising total holdings to 1,792,960 ETH, valued over $8 billion.
- The company aims to hold 5% of Ethereum’s total supply.
- Tom Lee predicts ETH could hit $5,500 and potentially surge to $10,000–$16,000 by year-end.
- Strategic pivot from Bitcoin to Ethereum was announced in late June, backed by a $250 million capital raise.
Bitmine Immersion has added 78,791 Ethereum ( ETH ) to its holdings, spending approximately $354.6 million. The purchase brings the firm’s total Ethereum holdings to 1,792,960 ETH, valued at over $8 billion as ETH trades around $4,400. It also brings Bitmine closer to its stated goal of acquiring 5% of the total ETH supply .
This latest buy continues Bitmine Immersion’s aggressive Ethereum accumulation strategy. The publicly-traded company, under the leadership of Tom Lee , announced its strategic pivot from Bitcoin ( BTC ) mining to Ethereum accumulation in late June. That move was marked by a $250 million capital raise aimed at purchasing Ethereum as the company’s primary treasury reserve asset. The announcement led to a 3000% surge in BitMine’s stock price.
Bitmine Immersion leads institutional ETH accumulation
Bitmine Immersion’s pivot to ETH accumulation reflects the growing institutional interest in Ethereum this bull cycle. The trend contrasts sharply with the previous cycle, when ETH largely lacked significant corporate or institutional treasury backing.
Alongside Bitmine, other publicly traded ETH treasury firms, including SharpLink Gaming (SBET) and BTCS Inc. (BTCS), are seeing similar momentum.
Source: crypto.news
Analysts suggest that ETH treasury stocks may offer more compelling valuations and operational flexibility than ETFs, as these companies combine liquidity, efficiency, and potential upside through capital structures not available in passive ETF products.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Cobie: Long-term trading
Crypto Twitter doesn't want to hear "get rich in ten years" stories. But that might actually be the only truly viable way.
The central bank sets a major tone on stablecoins for the first time—where will the market go from here?
This statement will not directly affect the Hong Kong stablecoin market, but it will have an indirect impact, as mainland institutions will enter the Hong Kong stablecoin market more cautiously and low-key.
Charlie Munger's Final Years: Bold Investments at 99, Supporting Young Neighbors to Build a Real Estate Empire
A few days before his death, Munger asked his family to leave the hospital room so he could make one last call to Buffett. The two legendary partners then bid their final farewell.
Stacks Nakamoto Upgrade
STX has never missed out on market speculation surrounding the BTC ecosystem, but previous hype was more like "castles in the air" without a solid foundation. After the Nakamoto upgrade, Stacks will provide the market with higher expectations through improved performance and sBTC.
Trending news
MoreCrypto prices
More
