Tom Lee’s BitMine Makes Biggest Ethereum Buy Since December
Publicly traded Ethereum treasury BitMine Immersion Technologies last week made its largest weekly purchase of ETH since December, according to Decrypt. The firm bought 71,524 ETH last week, valued at approximately $157 million.
The firm now holds 4,874,858 ETH worth more than $10.7 billion as Ethereum changes hands around $2,200. Lee’s firm has consistently been adding around $150 million in ETH per week over the last few weeks, boosting the firm’s total holdings to more than 4% of the entire circulating supply of Ethereum.
From its massive tranche of Ethereum, the firm is currently staking 3,334,637 ETH, or around $7.3 billion worth, via the Ethereum network. Last month, BitMine launched its Made in America Validator Network (MAVAN), its own staking network designed to provide institutional-grade infrastructure to ETH stakers in the U.S. When the firm has fully staked all of its Ethereum—the act of supplying and locking up ETH to help secure the network in exchange for rewards—Lee said the firm aims to become a "self-sustaining" entity.
Shares in the firm (BMNR) are up around 1.7% on Monday, recently changing hands around $21.64. Last week, shares in the company were uplisted to the NYSE from the smaller NYSE American exchange. Alongside the uplisting, the firm approved a 300% boost to its share buyback program, which now has $4 billion in total authorized funds. Last year, the firm’s board approved a $1 billion program, though it remains unclear if any of the funds have been used to repurchase shares of BMNR to date. BitMine shares are down around 63% in the last six months as Ethereum has fallen more than 55% from its peak in late 2025.
