BitMine Immersion Technologies, led by Tom Lee, gathers 1.9M ETH in six weeks, aiming for 5% of the total supply. With $8.98B in assets and strong institutional support, does this strategy reshape Ethereum's future? Find out how to capitalize on this opportunity.
BitMine Immersion Technologies (BMNR) has made a spectacular pivot, transforming from a Bitcoin miner to holder of the world’s largest Ethereum treasury, with 1.9 million ETH (value: ~$8.98 billion) accumulated in just six weeks.
Under the leadership of Tom Lee, chairman and co-founder of Fundstrat, the “Alchemy of 5%” strategy aims to acquire 5% of Ethereum’s total supply (6 million ETH), worth approximately $20 billion at current valuation. Backed by top-tier investors including ARK Invest, Founders Fund, and Bill Miller III, this initiative positions BitMine as a key player in the crypto market and boosts ETH’s bullish potential.
Since launching its Ethereum strategy on June 30, 2025, BitMine has accumulated 1,866,974 ETH at $4,458 per token (as of August 31, 2025), representing 31% of its target of 6 million ETH. This performance, detailed in the September 2, 2025 press release, surpasses MicroStrategy’s Bitcoin strategy (636,000 BTC). Key milestones include:
The crypto net asset value (NAV) per share jumped from $22.84 (July 27) to $39.84 (August 24), a 74% increase in one month, reflecting massive value creation.
Tom Lee compares the impact of the SEC Project Crypto and the GENIUS Act 2025 to the end of the Bretton Woods system in 1971, which unleashed financial innovation on Wall Street. He sees Ethereum as the engine of a financial supercycle, thanks to:
BitMine benefits from massive support from figures like Cathie Wood (ARK Invest), Peter Thiel (Founders Fund, 9.1% stake), and Bill Miller III, validating its vision. The BMNR stock is one of the most traded in the United States, with an average daily volume of $2.3 billion (22nd rank out of 5,704 US stocks), surpassing JPMorgan
This liquidity allows BitMine to raise funds without major impact on its stock price, as evidenced by the exhaustion of its $4.5 billion share sale program and a target of an additional $20 billion.
The goal of 6 million ETH (5% of total supply, ~120 million ETH) could create structural buying pressure, reducing the available supply in the market. With 1.9M ETH already held, BitMine represents ~1.6% of the supply, and each step toward the 6M ETH target could amplify ETH’s price appreciation.
Analysts, like those at Seeking Alpha, compare BitMine to MicroStrategy, whose Bitcoin strategy created a “sovereign put.” BitMine could establish a “Wall Street put” for Ethereum, attracting state or institutional players.
Risks to consider:
Bullish factors:
Warning signals:
Recommended strategy: Gradually accumulate Ethereum over 2 weeks, with staggered entry at $4,200-4,300 (technical support) to limit risks. A 15-20% allocation of your crypto portfolio is justified by BitMine’s structural potential.
GetAgent allows you to optimize your Ether trades to increase your returns. Here’s a 5-step guide to buying the token with GetAgent, Bitget’s AI trading agent:
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Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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