The world’s largest Ethereum treasury company shows no signs of fear or doubt as it continues to aggressively accumulate assets.
Retailers may be panic-selling Ether today, but Tom Lee’s BitMine Immersion Technologies remains bullish. The company reported on Monday that it had collected 102,259 ETH worth more than $300 million in the past week.
“Tom Lee still has $1 billion in cash. Will he keep buying the dip?” asked Arkham Intelligence
Lee remains bullish on Ether
“Crypto prices have stabilized over the past week, further evidence that crypto prices are starting to recover from the October 10 price shock,” said Tom Lee. However, this was before yesterday’s market crash.
BitMine currently owns 3.97 million ETH, or about 3.2% of the total supply, worth about $11.6 billion. It also owns 193 BTC worth about $16.5 million and has $1 billion in cash.
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BitMine provided the latest holding update for December 15, 2025:$13.2 billion in total crypto + “moonshots”:
-3,967,210 ETH for $3,074 per ETH (@muntbasis)
– 193 Bitcoins (BTC)
– $38 million stake in Eightco Holdings (NASDAQ: ORBS) (“moonshots”) and
– total cash of $1.0…— Bitmine (NYSE-BMNR) $ETH (@BitMNR) December 15, 2025
Lee went on to state that the company has made progress with its staking solution, known as The Made in America Validator Network (MAVAN).
“This will be the best-in-class solution providing a secure staking infrastructure and will be implemented in early 2026.”
Speaking on CNBC on Monday, he said there are concerns about the quantum threat and massive deleveraging in October, “but the fundamental crypto story is coming at a very high level this year.”
“The US government has passed legislation and regulations that are favorable to crypto, and we know that Wall Street has shown a lot of interest in building products on the blockchain… so it almost seems like both have great visibility, but the price point is a bit uncertain.”
Lee concluded that in the field of crypto “the best years are certainly ahead.”
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“I think we’re in the very latest phase where it seems like the technology is ahead of the applications,” says Tom Lee of @Fundstrat on AI. “The capabilities will blossom, and then the services will follow.”https://t.co/55CElC2pig
— Squawk Box (@SquawkCNBC) December 15, 2025
Ether price loses support
Lee’s comments came before Ether prices lost support and fell below $3,000 in late trading on Monday. ETH briefly fell below $2,900 in early trading in Asia on Tuesday, its lowest level since the big leverage flush on December 2.
It is currently down 41% from its all-time high, and the downward trend looks set to continue despite overwhelmingly bullish fundamentals for the network and assets.
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