BitMine Immersion Technologies, Inc., the largest publicly traded Ethereum treasury company, has executed its largest weekly purchase in recent months, acquiring 138,452 ETH (worth approximately $460 million) in the past week. This acquisition, announced on December 8, 2025, represents a 156% increase from its weekly purchase pace of 54,156 ETH four weeks ago.
The purchase is part of BitMine's strategic long-term accumulation plan, with the stated goal of eventually owning 5% of Ethereum's total circulating supply. The company, chaired by Thomas "Tom" Lee, currently holds approximately 3.864 million ETH, equating to about 3.2% of the supply and a treasury value of $12.85 billion. This makes BitMine the second-largest crypto treasury overall, trailing only Bitcoin behemoth Strategy.
"BitMine believes Ethereum has already bottomed," stated Chairman Tom Lee in a video interview. "Our stepped up buying activity reflects our confidence that ETH prices should strengthen in the months ahead given multiple catalysts." Lee cited the recent dip below $3,000 as a buying opportunity and expressed a stronger long-term preference for Ethereum over Bitcoin for the next 10-15 years.
Lee's bullish stance is rooted in Wall Street's growing adoption of the Ethereum blockchain for tokenization of real-world assets (RWAs), which he sees as "the next major evolution in market infrastructure." Ethereum currently hosts nearly 66% of all tokenized RWAs, valued at $12.1 billion. Beyond treasury expansion, BitMine anticipates enhancing its staking capabilities through the planned rollout of its MAVAN network in 2026.
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