Tom Lee’s BitMine Bets Big on Ether With $88M Boost as ETH Nears Cycle Lows

BitMine Immersion Technologies (NYSE: BMNR), the Ethereum-focused treasury firm chaired by Fundstrat co-founder Tom Lee, accumulated approximately **$88 million** worth of Ether on December 22, 2025, according to on-chain trackers. The purchase involved ~29,462 ETH transferred from BitGo and Kraken, as ETH traded near **$2,978**—close to recent cycle lows.

This latest buy extends BitMine’s aggressive accumulation, following a weekly disclosure of 98,852 ETH added (~$302 million), pushing total holdings beyond **4.06 million ETH** (valued at ~$12 billion at an average cost of $2,991 per token). BitMine remains the world’s largest corporate Ether holder, controlling about 3.37% of circulating supply and advancing toward its “Alchemy of 5%” goal.

Lee views the ongoing dip—driven by broader market consolidation and ETF outflows—as a buying opportunity, emphasizing Ethereum’s fundamentals:

– Dominance in DeFi
– Smart contracts
– Tokenization
– Network upgrades like Fusaka

Despite unrealized losses exceeding $3 billion on portions bought at higher prices, BitMine’s strategy prioritizes long-term positioning as Wall Street migrates to blockchain infrastructure.

The move coincides with spot Ethereum ETFs recording modest inflows after prolonged outflows, signaling mixed but stabilizing institutional sentiment. ETH has underperformed Bitcoin recently, trading around $2,950-2,960 amid volatility.

Market observers see BitMine’s contrarian accumulation as a strong conviction signal, potentially reducing selling pressure and supporting recovery if institutional demand rebounds. With $1 billion in cash reserves, BitMine is well-positioned for further opportunistic buys into 2026.