BitMine expands Ethereum reserves, eyes $20k ETH amid AI growth#BTCWhalesMoveToETH
#BinanceAlphaAlert BitMine Immersion Technologies Inc. has strengthened its position in the digital asset space, purchasing over 102,000 Ethereum, as co-founder Tom Lee argues that the company’s long-term strategy remains solid despite market volatility.
Summary
The purchase brings BitMine’s Ethereum holdings to approximately 3.97 million ETH, valued at $12.2 billion, placing the company on track to meet its goal of acquiring 5% of the Ethereum network’s total supply.
Lee, also the chair of BitMine, expressed confidence in the digital asset market, citing upcoming regulatory developments and his belief in the long-term potential of AI and blockchain technologies.
As the company expands its crypto treasury, it’s also preparing to launch a proprietary Ethereum staking network in 2026. Alongside these moves, BitMine’s stock has soared, averaging $1.9 billion in daily volume as it continues to grow its presence in the crypto and AI sectors.
BitMine’s total ETH holdings is currently 3.97 million ETH.
At current prices, this brings the company’s Ethereum assets to a value of around $12.2 billion. With the latest purchase, BitMine now controls more than 3.2% of Ethereum’s total supply, placing it on track to meet its goal of owning 5% of the network’s tokens.