In a significant move highlighting its aggressive acquisition strategy, BitMine Immersion Technologies announced the addition of 32,977 Ethereum (ETH), valued at approximately $104 million, during the last week of 2025. This latest purchase boosts the firm’s total ETH holdings to over 4.14 million, equating to more than $13 billion and representing around 3.4% of the circulating ETH supply. With this acquisition, BitMine is working towards its goal of securing 5% of the total circulating ETH, which would require an additional 1.9 million ETH.
Tom Lee, Chairman of BitMine, remarked on the firm’s continued growth despite a slowdown in overall equity and cryptocurrency activities. He emphasized that BitMine has maintained a leading position as a “fresh money” buyer of ETH, significantly outpacing other Ethereum treasury firms. “Our analysis shows that we have continued to accumulate ETH at an accelerated pace versus other Ethereum digital asset treasuries,” he stated.
Along with the announcement of new holdings, Lee also presented ambitious forecasts for the future price of ETH and BitMine shares (BMNR). He projected that ETH could soar to $250,000, reflecting an astonishing 7,760% increase from its current trading price of $3,180. The value of ETH has already risen by nearly 9% over the past week, providing a favorable backdrop for his predictions.
Moreover, Lee suggested that shares of BMNR could reach $5,000, contingent on their relationship with ETH prices. He indicated that these projections do not consider any stock splits, which the firm is evaluating as it seeks shareholder approval to significantly increase its authorized share count from 500 million to 50 billion. Lee explained that the increase in shares would facilitate capital market activities, accommodate potential share splits as ETH approaches these long-term targets, and permit selective acquisitions that could enhance the firm’s portfolio.
Given the focus on improving accessibility for investors, Lee highlighted the importance of keeping the stock price around $25. He urged shareholders to support the proposal ahead of the upcoming vote on January 14.
Shares of BitMine experienced a boost of approximately 4% on Monday, trading at around $32.49. In the past five trading days, shares have surged nearly 14.8%. BitMine continues to lead as the largest Ethereum treasury firm and stands as the second-largest publicly traded cryptocurrency treasury, following Strategy, which manages about $63 billion in Bitcoin (BTC).
In addition to its substantial ETH holdings, BitMine also maintains approximately $915 million in cash and owns 192 Bitcoin valued at around $18 million. As the company prepares for its annual meeting, other proposals on the agenda include the election of eight directors and the implementation of special compensation and incentive plans.
