BitMine Immersion Technologies has increased its Ethereum holdings to 4.875 million tokens, valued at approximately $11.8 billion when combined with its other assets. Chairman Tom Lee stated the firm has accelerated its accumulation, believing Ethereum is in the final stages of a ‘mini-crypto winter’ and has become a leading store of value amid geopolitical tension.
The crypto mining firm BitMine Immersion Technologies has announced a major new Ethereum purchase, bringing its total holdings to 4.875 million tokens. The company’s combined crypto, cash, and other holdings are now valued at $11.8 billion.
Chairman Tom Lee continues to be a vocal proponent of the asset despite its price correction from 2025 highs. He highlighted Ethereum’s performance since the outbreak of the Iran war seven weeks ago.
“ETH is now the best-performing asset since the start of the war, with a 17.4% gain and outperforming the S&P 500 by 1,830 basis points,” Lee said. “And we believe ETH beating gold by 2,743 basis points demonstrates ETH is the wartime store of value.”
Lee attributed the ecosystem’s strength to Wall Street’s tokenization efforts and the needs of agentic AI systems. Consequently, the firm has continued acquiring ETH at an increased pace for the past month.
The latest purchase of 71,524 ETH is its largest since mid-December. This acquisition means the company now owns over 4% of Ethereum’s total token supply.
