BitMine Buys 14,618 ETH Worth $44M, Expanding Ethereum Corporate Holdings
Nasdaq-listed BitMine Immersion Technologies, under the leadership of crypto strategist Tom Lee, has purchased 14,618 ETH...
Quick overview
- BitMine Immersion Technologies has acquired 14,618 ETH for approximately $44.34 million, signaling strong institutional confidence in Ethereum.
- With this purchase, BitMine now holds 3.63 million ETH, about 3% of the total supply, and aims to reach 5%.
- The company's strategy includes launching a validator network in 2026, positioning it as a major player in the Ethereum ecosystem.
- Analysts believe that BitMine's significant ETH holdings could influence market liquidity and contribute to a potential 'supercycle' in Ethereum.
Nasdaq-listed BitMine Immersion Technologies, under the leadership of crypto strategist Tom Lee, has purchased 14,618 ETH, valued at approximately $44.34 million. They pulled the trigger on this acquisition using the institutional custodian BitGo, spending an average of $3,033 per ETH, according to blockchain analytics platforms.
This purchase shows that BitMine is dead serious about Ethereum as an investment. Right now, Ethereum is trading around $3,000, having just bounced off a weekly low of $2,680. By slowly but surely building their stake, BitMine is signaling to the market that they think ETH has the potential to deliver both significant value appreciation and staking opportunities.
Corporate Position and Market Impact
After this latest buy, BitMine now controls a whopping 3.63 million ETH, roughly 3% of Ethereum’s total supply, valued at over $10 billion. They are about 60% of the way to their target of holding 5% of circulating ETH.
💥BREAKING:
Tom Lee's BitMine Immersion buys another 14,618 $ETH worth $44.3 million. pic.twitter.com/ek6FKlmKVM
— Crypto Rover (@cryptorover) November 28, 2025
Key facts:
- Total ETH held by corporate entities: 6.36 million, which is around 5.26% of the supply
- BitMine’s portfolio is currently trading at a 20% discount to net asset value, which is a mNAV of 0.80
- Corporate treasuries are buying up ETH at an increasing rate – a sign that institutional confidence in ETH is growing
Despite the discount to net asset value, analysts think the market is undervaluing BitMine’s ETH holdings because they are worried about the perceived risks or uncertainty surrounding the company’s strategy. Big-ticket purchases like this one can influence market liquidity and also help to increase Ethereum’s institutional credibility.
Strategy and Future Plans
BitMine switched from Bitcoin mining in early 2025, raising over $7 billion by issuing new shares to fund its investment in an Ethereum treasury. The company is also planning to launch the Made in America Validator Network in 2026, which will allow people to stake ETH and participate in validating the Ethereum network directly.
This is all part of a strategy that positions BitMine as the biggest corporate holder of Ethereum – something that’s similar to what Michael Saylor has done with his Bitcoin accumulation. Analysts think that this kind of institutional buying could spark a “supercycle” in Ethereum, driven by staking rewards and increased validator engagement.
BitMine’s steady and deliberate approach to accumulating Ethereum and building out infrastructure is helping to show the growing role that corporate treasuries are playing in shaping cryptocurrency markets, which could redefine the path that Ethereum takes as both a financial and network asset.
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