- BitMine’s acquirement of 202,037 ETH amid recent market upheaval.
- The firm’s total ETH holdings now exceed 3 million.
- Backing from Ark Invest and major investors strengthens its position.
BitMine Immersion, led by Chairman Thomas Lee, added 200,000 ETH valued at approximately $828 million to its treasury amid an October 2025 market downturn.
This substantial acquisition emphasizes BitMine’s strategic positioning in the crypto market, influencing Ethereum’s supply and illustrating institutional interest despite volatile conditions.
BitMine’s Strategic Acquisition During Market Downturn
BitMine Immersion has increased its Ethereum holdings by purchasing 202,037 ETH. This acquisition happened during a significant market downturn. The move aligns with the company’s strategy of building the largest Ethereum treasury.
“The crypto liquidation over the past few days created a price decline in ETH, which BitMine took advantage of. Volatility creates deleveraging and can cause assets to trade at substantial discounts to fundamentals—or as we say, ‘substantial discount to the future’—and this creates advantages for investors, at the expense of traders.” — Thomas Lee, Chairman, BitMine Immersion.
Building the Ethereum Treasury
Led by Chairman Thomas Lee, BitMine’s strategy involves buying ETH at discounted prices. The company now holds over 3 million ETH, exceeding 2.5% of Ethereum’s total circulating supply.
Reinforced Status and Institutional Support
The purchase has reinforced BitMine’s status as a leading entity in crypto treasury. This move has shown resilience against economic instability. Institutional support from Ark Invest and others also plays a crucial role.
Financial implications include BitMine’s treasury expansion, now valued between $12.9 billion and $13.4 billion. The market observed substantial ETH withdrawals from major exchanges like Kraken, reflecting the company’s strategic approach.
Long-term Commitment to Ethereum’s Growth
Analysts view the acquisition as a bold step, emphasizing BitMine’s long-term commitment to Ethereum. Despite market volatility, this strategy highlights confidence in ETH’s growth potential.
Large-scale acquisitions like this can impact ETH prices positively, although regulatory pressures remain a consideration. This mirrors MicroStrategy’s prior Bitcoin strategy. The market will watch closely for subsequent developments.
