BitMine’s ETH supply grows to over $12 billion as aggressive buying continues amid the holiday slowdown.
Ethereum treasury BitMine Immersion Technologies has continued to aggressively grow its ETH holdings even as prices remain stuck below $3,000.
In fact, blockchain tracker Lookonchain found that the company bought an additional 32,938 ETH, worth about $97.6 million.
Ethereum stock
The data too shows BitMine has staked another 118,944 ETH, which is approximately $352 million. The purchases were executed within a four-hour window on Tuesday as crypto markets remain subdued in the latter part of 2025. The company appears to be using the year-end softness to scale its Ethereum treasury and deepen its long-term exposure to the network.
BitMine’s latest acquisition brings its total Ether holdings to approximately 4.07 million ETH, which at current prices is valued at approximately $12 billion. The company has consistently deployed a large portion of its reserves. The buying spree came amid BitMine Chairman Thomas “Tom” Lee’s statement that activity tends to slow as the market heads into the final holiday weeks of a calendar year.
Lee also noted that BitMine added over 44,000 ETH in the past week alone and has collected over 77,400 since last Monday. He has done that repeatedly described the company as the largest “fresh money” buyer of Ether in the world, while highlighting that BitMine has been purchasing more than 40,000 ETH per week for at least ten consecutive weeks. Lee said:
“Bitmine’s sole focus remains creating shareholder value, achieving this by positively acquiring ETH per share, optimizing returns and income from its Ether holdings, and strategically investing its balance sheet in ‘moonshots’ and leveraging the company’s strong community and market position to generate additional returns.”
Institutional flows and technical signals
In addition to business accumulation, institutional interest in Ethereum is also showing signs of strength. Data from Tuesday shows net inflows of approximately $67.9 million into spot ETH ETFs. Interestingly, Grayscale accounted for nearly $64.2 million of that total.
Furthermore, market watchers following the performance of ETH against BTC noticed that longer-term indicators started to become more constructive. Galaxy trading points to improve longer-term momentum, meaning Ethereum’s relative positioning against Bitcoin may be stabilizing after a long period of weakness.
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