BitMine Buys Another 101,901 ETH — Now Holds 5.08 Million Ether Worth $13.3 Billion

[cryptobro]

BitMine Immersion Technologies, the Ethereum treasury company backed by Fundstrat's Tom Lee, has continued its aggressive accumulation strategy with a second major purchase in as many weeks. The company acquired 101,901 ETH last week, bringing its total holdings to approximately 5.08 million Ether and combined crypto and cash reserves to roughly $13.3 billion. The latest buy follows a purchase of 101,627 ETH the week prior — the company's largest single acquisition since December 2025 — signaling that BitMine is treating the current price environment as an accumulation opportunity rather than a reason for caution. The purchases also include a direct OTC transaction with the Ethereum Foundation, which sold 10,000 ETH to BitMine earlier this month as part of its ongoing treasury management.

The conviction behind the buying is notable given the financial pressure the company is currently absorbing. BitMine is sitting on more than $6.5 billion in unrealized losses based on total ETH investments of approximately $17.6 billion, and its NYSE-listed BMNR stock is down more than 20% year-to-date. To generate income during the price downturn, the company has staked roughly 3.7 million of its ETH holdings, earning validator rewards that provide a steady yield stream independent of price movements. Ethereum has recovered from a low near $1,800 earlier this year to trade back above $2,400, but the asset remains down approximately 23% year-to-date — meaning BitMine's balance sheet is still deeply exposed to further volatility despite the recent stabilization.

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Tom Lee backed a company with 5 million ETH and a $6.5B paper loss. Fundstrat did not come to play small.

[nihalsari]

bitmine and strategy is only ones who are buying right now