BitMine Buys $400M Ether, Boosts Holdings
Update: 2025-11-10
Description
BitMine Immersion Technologies, led by Wall Street strategist Thomas Lee, recently purchased 110,288 Ether tokens, valued at nearly $400 million, increasing their total Ether holdings to over 3.5 million tokens, or nearly 3% of the entire Ether supply. This significant acquisition boosted their cash balance to $398 million and led to a positive reaction in their stock price, trading over 5% higher. Ether also experienced a rally, climbing to $3,600, a 6% increase from its previous price. Despite their own stock falling over 30% since early October, BitMine has added approximately 675,000 Ether to their balance sheet, now worth over $2.4 billion, making them the second-largest crypto treasury with overall holdings totaling $13.2 billion.
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