BitMine Immersion Technologies (BMNR), an Ethereum-focused digital asset finance company, acquires 138,452 Ether Ethereum$3,142.49 The company reported on Monday that it accelerated its accumulation strategy last week, increasing its total token holdings to 3.86 million tokens.
At current ETH prices, last week’s acquisition is worth approximately $435 million. The company noted that this is a 156% increase compared to four weeks ago, when it added approximately 54,000 ETH, and is higher than the previous two weeks of 97,000 and 70,000 tokens.
The company also increased its cash holdings to $1 billion from $882 million the previous week. Including a small stash of Bitcoin and shares in Eightco Holdings (ORBS), the company’s total crypto and cash assets are worth $13.2 billion.
The acquisition increases BitMine’s share of the second-largest cryptocurrency’s circulating supply to more than 3.2%, strengthening its position as the largest known ETH vault.
BitMine stock rose 3.8% pre-market, and ETH rebounded modestly to $3,150 over the weekend.
Digital asset treasuries have slowed or reversed their accumulation as token prices and stock valuations have come under pressure in recent weeks. Bitmine took the opposite approach, increasing its purchases as Ether continues to trade well below its summer highs.
Chairman Thomas Lee said the company ramped up its purchases following Ethereum’s Fusaka upgrade on December 3, which improved network scalability and security. He also cited macro factors such as the Federal Reserve’s expected rate cuts this month and the end of quantitative tightening as factors supporting the ETH market rally in early 2026.
Lee released another message on Monday titled “Cryptocurrency Supercycle Unscathed,” arguing that wider adoption and increased interest in tokenization could drive demand next year.
The company said Bitmine remains one of the most actively traded U.S. stocks, with an average daily volume of about $1.8 billion, ranking it among the top 40 most traded stocks. However, the company still has large unrealized losses on its ETH stash, estimated at nearly $3 billion at current prices.
Read more: Analyst warns of structural issues, BitMine Immersion leaves $4 billion in losses on Ether bet
