Company Overview - BitMine Immersion Technologies (BMNR) has acquired 96,798 ether (ETH), increasing its total ETH holdings to 3.73 million tokens, valued at approximately $10.5 billion, making it the largest Ethereum treasury company [1][2] - The firm also holds 192 bitcoin (BTC), a $36 million stake in Eightco Holdings (ORBS), and $882 million in cash [2] Market Context - Digital asset treasuries (DATs) are under pressure due to declining crypto prices and stock valuations, leading many firms to stop accumulating crypto or even sell off assets [3] - BitMine is one of the few firms continuing to buy ETH despite an estimated $4 billion in unrealized losses on its ETH holdings [3] Strategic Insights - The upcoming Ethereum upgrade, Fusaka, scheduled for December 3, is expected to enhance scalability, security, and usability, motivating BitMine to increase its ETH acquisitions by 39% [3][4] - The Federal Reserve is anticipated to halt quantitative tightening and potentially cut interest rates in December, which could positively impact ETH prices and stabilize the crypto market [4]
Tom Lee's BitMine Acquires 97K ETH, Eyeing Fusaka Upgrade, Fed Policy as Positive Catalysts
Yahoo Finance·2025-12-01 14:23