.png){kind=logo}
BitMine Immersion Technologies has expanded its Ethereum treasury with a $97.6 million purchase as crypto markets stayed quiet during the final trading days of 2025.
Blockchain data shows the firm acquired 32,938 Ether, lifting total holdings to about 4.07 million ETH, valued at $12 billion. At the same time, BitMine staked additional tokens, signaling continued accumulation despite muted prices and seasonal trading slowdowns.
Data from Nansen shows BitMine completed the Ether purchase during a period of compressed trading ranges. Other records place the company’s total Ethereum holdings at roughly 4.07 million ETH after the transaction. The value stood near $12 billion at prevailing market prices during the session.
Alongside the purchase, BitMine staked another 118,944 ETH to generate yield for shareholders. On-chain tracking later confirmed the staking transaction on Dec. 31.
The move raised total staked Ether to about 461,504 ETH, worth roughly $1.37 billion.
Blockchain data from OnChain Lens also flagged a new wallet receiving 32,938 ETH from FalconX. The transfer carried a value of nearly $97.8 million at the time of execution. On-chain behavior suggests the address belongs to BitMine, pointing to fresh accumulation rather than internal transfers.
Tom Lee, who leads BitMine’s Ethereum strategy, linked recent price softness to year-end tax dynamics in the United States. Lee said tax-loss selling tends to peak between Dec. 26 and Dec. 30, when investors often sell assets to offset gains and reduce taxable income.
Lee, a founder and managing partner at Fundstrat, also cited lighter institutional activity. According to Lee, many large investors pause trading during the Christmas period. That lull leaves automated strategies to dominate daily market flows.
Against this backdrop, Ethereum traded well below the levels at which BitMine built much of its position. Even so, the company continued adding to its treasury during the pullback.
What does sustained accumulation during thin markets reveal about BitMine’s long-term Ethereum strategy?
Over the past week, BitMine added 44,463 ETH, valued at $132 million at the time of purchase. Earlier in December, the firm completed a single-day purchase of 67,886 ETH, valued at about $201 million. Other additions included 29,462 ETH, valued at $88 million, and 32,938 ETH, worth about $97.6 million.
Since last Monday alone, BitMine has accumulated more than 77,400 ETH. Lee described the firm as the largest source of “fresh money” buying Ethereum. Records show the company purchased over 40,000 ETH each week for at least ten consecutive weeks.
BitMine Immersion Technologies Inc. (NYSE: BMNR), chaired by Lee, shifted strategy in 2025. The company moved away from immersion cooling for mining toward large-scale accumulation of digital assets centered on Ethereum. With average entries near $3,960, the firm carries estimated unrealized losses of about $3.5 billion.
The strategy coincides with broader policy debates in the United States. Several crypto executives criticized a proposed 5% wealth tax on billionaires that includes unrealized gains. Former Kraken CEO Jesse Powell warned the measure could drive capital and jobs elsewhere.
BitMine plans to launch its Made-in-America Validator Network in the first quarter of 2026. The initiative will run U.S.-based Ethereum validators as part of its staking operations. The company will outline further treasury plans at its Jan. 15, 2026, shareholder meeting in Las Vegas.
Also Read: Bitcoin Above $88,000, Ethereum Gains 0.97%, Solana Hits $125
BitMine Immersion Technologies continued to expand its Ethereum treasury with a $97.6 million purchase and further staking, despite thin holiday trading and tax-loss selling pressure. The firm now holds more than 4 million ETH and remains committed to large-scale accumulation as it prepares to launch U.S.-based Ethereum validators in 2026.
