Tom Lee and BitMine Purchase $355 Million Worth of Ethereum

Bitmine Immersion has invested $354.6 million in Ethereum, increasing its holdings to $8 billion. With ETFs and institutional interest, could ETH be heading towards $16,000?

Written by Charles Ledoux

Translated on August 30, 2025 at 09:48 by Simon Dumoulin

Ethereum ETH bitmine altcoin cryptocurrency illustration.

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Bitmine Immersion’s Aggressive Ethereum Accumulation Strategy

Bitmine Immersion, a company specializing in cryptocurrency mining, has just announced a major acquisition that illustrates the sector’s dynamism. The company spent $354.6 million to acquire 78,791 Ethereum (ETH). Bringing its total portfolio to nearly 1.8 million ETH, valued at over $8 billion.

BITMINE, THE WORLD'S BIGGEST CORPORATE #ETHEREUM HOLDER, HAS GROWN ITS TREASURY AGAIN. THE COMPANY NOW HOLDS NEARLY 1.8 MILLION ETH, A RAPID INCREASE SINCE AUGUST 24TH.$BMNR $ETH pic.twitter.com/cj6xjtlXuD
— Blacksea (@333blacksea) August 29, 2025

This operation marks a new step in Bitmine Immersion’s aggressive Ethereum accumulation strategy.

This comes after Bitmine Immersion’s pivot from Bitcoin mining to Ethereum accumulation. Reflecting growing institutional interest in the world’s second-largest cryptocurrency.

Under the leadership of Tom Lee, the company announced last June its intention to use ETH as its primary reserve asset, thanks to a $250 million fundraising round. This decision triggered a 3000% surge in Bitmine’s stock price.

A Booming Market, Opportunities to Seize

Bitmine’s enthusiasm for Ethereum is part of a dynamic crypto market context, marked by ever-increasing appetite from institutional investors for digital assets.

Other publicly traded companies such as SharpLink Gaming and BTCS Inc. have also chosen to boost their ETH reserves, taking advantage of the attractive valuation and operational flexibility offered by this strategy.

The 5 Largest Publicly Traded Ethereum Treasury Firms 🏦

Bitcoin started the corporate treasury trend, but ETH is catching up fast. Public companies now hold 3.7M ETH (~$17B) – over 3% of supply. Who’s stacking the hardest?

1️⃣ BitMine Immersion (BMNR) – Tom Lee’s beast. Ex-BTC… pic.twitter.com/zQx06EoSuD
— Kyrrex (@Kyrrexcom) August 29, 2025

Analysts highlight that Ethereum reserve-backed stocks offer significant advantages over traditional ETFs, combining liquidity, efficiency, and upside potential thanks to more advantageous capital structures.

In conclusion, with this massive acquisition, Bitmine Immersion affirms its ambition to become a key player in the Ethereum market. As the cryptocurrency sector experiences a new bullish phase, institutional investors’ enthusiasm for ETH suggests promising growth prospects for the world’s second-largest cryptocurrency.

Analysts are even suggesting the possibility of Ethereum reaching $10,000 to $16,000 by the end of the year. A new era is dawning for the Ethereum ecosystem.

Buy ETH on Bitget and get $20 instantly!

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Charles Ledoux

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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