BitMine Immersion Technologies is going all in on Ethereum, and it’s not slowing down. The company has just bought more than 102,000 ETH, pushing its total Ethereum holdings to about 3.97 million ETH. At today’s prices, that stash is worth roughly $12.2 billion.
With this latest purchase, BitMine now controls over 3.2% of all Ethereum in circulation, putting it firmly on track to reach its goal of owning 5% of the entire Ethereum network. That makes BitMine the largest public company holder of ETH, second only to Michael Saylor’s MicroStrategy when it comes to crypto reserves overall.
For BitMine, Ethereum isn’t just an investment anymore—it’s the core of the company’s strategy.
Chairman and co-founder Tom Lee says he’s not worried about short-term market swings. He believes the bigger picture still looks strong, especially with clearer crypto rules starting to take shape. Lee pointed to upcoming regulations and growing support for digital assets as reasons the company feels confident doubling down.
BitMine is also planning its next big move: launching its own Ethereum staking network in early 2026. The project, called the “Made in America Validator Network,” will allow the company to play a deeper role in securing the Ethereum blockchain while generating staking rewards. It’s another sign BitMine wants to be more than just a holder—it wants to be a key player in the ecosystem.
Lee has also been outspoken about the future of AI and blockchain, saying both technologies are still in their early growth stages. He admits some AI company valuations look extreme, but compares today’s situation to the late 1990s internet boom. Back then, many companies failed, but investors who spread their bets across the sector ended up winning big in the long run.
He believes the same pattern will play out with AI—and with crypto.
When it comes to prices, Lee remains bullish. He has said Ethereum could reach $20,000 in the coming years, driven by things like asset tokenization and wider real-world use. He also believes Bitcoin’s old four-year cycle is over, predicting new all-time highs by early 2026 as adoption continues to grow. In the short term, he expects Bitcoin to move more like the S&P 500 before making its next major run.
Investors seem to be buying into BitMine’s vision. The company’s stock has exploded in activity, averaging about $1.9 billion in daily trading volume, putting it among the most actively traded stocks in the U.S.
Beyond Ethereum, BitMine also holds 193 Bitcoin, a $38 million stake in Eightco Holdings, and about $1 billion in cash. Altogether, its crypto, cash, and strategic investments are now worth nearly $13.3 billion, giving the company plenty of room to handle market ups and downs.
Looking ahead, BitMine will host its annual shareholder meeting in Las Vegas on January 15, 2026, where it’s expected to lay out more details about future Ethereum purchases, staking plans, and broader blockchain goals.
For now, one thing is clear: BitMine is betting big on Ethereum—and it’s betting for the long term.
