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.
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