Crypto mining firm BitMine Immersion Technologies continues to aggressively accumulate Ethereum, solidifying its position as the largest corporate holder of the digital asset amid fluctuating market conditions.
The company recently added another 14,618 ETH to its institutional treasury. This acquisition, valued at approximately $44.34 million, has not been officially confirmed by BitMine.
This latest move follows an announcement days prior of an additional $200 million acquisition of the cryptocurrency. BitMine has a stated corporate strategy to accumulate 5% of the total circulating Ethereum supply.
The company’s public updates confirm it holds 3,629,701 ETH on its balance sheets, valued at around $10.9 billion. This volume represents approximately 3% of the total Ethereum supply.
This holding makes BitMine the largest corporate owner of Ethereum. The company asserts its commitment to the Ethereum ecosystem and its increasing role in global financial services.
BitMine believes Ethereum is well-positioned for a future where blockchain infrastructure will see greater adoption by institutions and governments. Tom Lee, CEO of BitMine, has consistently supported the project.
Lee argues that “Wall Street and the White House will favor Ethereum” due to its character as “a truly neutral network.”
The company’s aggressive accumulation comes as Bitcoin, Ethereum, and most cryptocurrencies have experienced significant deceleration. Prices have shown volatility due to global macroeconomic factors and expectations surrounding U.S. monetary policy.
Despite market pressures, Lee offered an optimistic forecast for Ethereum during a recent podcast. He suggested ETH could find a floor near $2,500 before recovering to reach $7,000 or even $9,000 by late January 2026.
Lee also discussed Bitcoin in a CNBC interview, predicting a shift in the Federal Reserve’s stance before the year concludes. He believes a more moderate approach from the central bank could ease macroeconomic pressure on the crypto market.
The analyst suggested Bitcoin could surpass $100,000 by year-end, or even achieve a new all-time high, if the broader economic context becomes supportive.
The recent 14,618 ETH acquisition was documented by blockchain analytics firms Lookonchain and Arkham Intelligence. Their analysis indicates the operation occurred around 5:07 p.m. UTC via a wallet linked to BitGo.
At the time of reporting, Bitcoin was trading at $91,315, experiencing a slight decrease of 0.15% over 24 hours. Ethereum was trading at $3,034, with a modest increase of 0.12%.