BitMine Immersion Technologies Inc. is doubling down on Ethereum, adding more than 102,000 ETH to its balance sheet and strengthening its position as one of the largest corporate holders of the cryptocurrency. Despite ongoing market swings, co-founder and chairman Tom Lee says the company’s long-term strategy remains firmly on track.
With the latest purchase, BitMine’s total Ethereum holdings now stand at around 3.97 million ETH, worth approximately $12.2 billion at current prices. This gives the company control of over 3.2% of Ethereum’s total supply, bringing it closer to its ambitious goal of owning 5% of the entire network.
The aggressive accumulation has made Ethereum a central pillar of BitMine’s corporate strategy. Among publicly listed companies, BitMine now holds more ETH than any other firm and ranks just behind Michael Saylor’s MicroStrategy when it comes to overall crypto reserves worldwide.
Ethereum at the core of BitMine’s strategy
BitMine’s leadership sees Ethereum as more than just a treasury asset. The company is actively building infrastructure around the network, including plans for a proprietary staking platform known as the “Made in America Validator Network.” This Ethereum staking operation is expected to launch in early 2026, further embedding BitMine into the Ethereum ecosystem.
Speaking recently on the Prof G Podcast, Lee pointed to improving regulatory clarity as a major confidence booster. He highlighted developments expected in 2025, such as the GENIUS Act and the SEC’s Project Crypto, saying these initiatives strengthen the long-term outlook for digital assets.
Lee also shared his bullish stance on artificial intelligence, acknowledging that AI company valuations may look extreme but arguing that such pricing is common during periods of rapid, exponential growth. He compared today’s AI boom to the internet expansion of the late 1990s, noting that while many companies failed back then, broad exposure to the sector ultimately paid off for long-term investors.
Why BitMine sees $20,000 ETH
Lee’s optimism extends directly to Ethereum’s price potential. During the Binance Blockchain Conference in Dubai, he suggested ETH could reach $20,000 per coin in the coming years. His outlook is based on the expected rise of asset tokenization and Ethereum’s expanding role beyond simple digital payments.
He also addressed Bitcoin’s future, saying the traditional four-year price cycle has likely ended. According to Lee, Bitcoin could hit new all-time highs by early 2026, driven by wider adoption and its increasing importance in global finance. In the near term, he expects Bitcoin’s performance to track closely with the S&P 500.
Strong stock activity and growing reserves
Investor interest in BitMine has surged alongside its crypto strategy. As of December 14, the company averages around $1.9 billion in daily trading volume, placing it among the 50 most actively traded U.S. stocks.
Beyond Ethereum, BitMine holds 193 BTC and a $38 million stake in Eightco Holdings. Altogether, the company’s crypto assets, cash, and strategic investments total nearly $13.3 billion, including $1 billion in cash reserves.
Looking ahead, BitMine plans to outline its next phase of growth at its annual shareholder meeting in Las Vegas on January 15, 2026, where further details on ETH accumulation, staking initiatives, and blockchain expansion are expected.
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