BitMine Immersion Technologies, chaired by Fundstrat co-founder Tom Lee, has added another 40,000 ETH to its corporate treasury, a purchase valued at approximately $83.4 million based on prevailing market prices.
The move reinforces BitMine’s long-term conviction in Ethereum, even as the company sits on significant unrealized losses due to recent market volatility. According to publicly available data and reports, this acquisition is part of an ongoing accumulation strategy, not a one-off transaction.
BitMine has steadily positioned itself as one of the largest corporate holders of Ethereum, treating ETH as a strategic treasury asset rather than a short-term trade. Tom Lee has previously stated that market pullbacks present attractive entry points for long-duration investors who believe in Ethereum’s role in decentralized finance, tokenization, and on-chain settlement.
While critics point to the risks of holding large crypto reserves during downturns, supporters argue that such moves signal institutional-level confidence in Ethereum’s long-term fundamentals.
As corporate crypto treasuries continue to evolve beyond Bitcoin, BitMine’s approach highlights a growing trend: Ethereum is increasingly being viewed as a core digital asset, not just a speculative investment.
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