Bitmine Immersion has made headlines by acquiring an additional 44,463 ETH valued at $130 million, further solidifying its position in the Ethereum ecosystem. This strategic purchase expands the company”s total Ethereum holdings to 4,110,525 ETH, which equates to approximately $12.02 billion.
The acquisition highlights Bitmine“s ongoing commitment to maintaining a robust treasury, which now represents 3.41% of the total ETH supply. Additionally, the company holds 192 BTC and around $1 billion in cash, making it one of the largest corporate treasury holders in the cryptocurrency space, with total assets reaching $13.2 billion.
The announcement of this significant purchase triggered a positive response in the stock market, with BMNR stock experiencing a surge of over 4%, reaching $29.53. This follows a week of volatility, where the stock had closed lower at $28.31 on Friday, marking a 10% decline amid broader market fluctuations affecting Ethereum.
According to Tom Lee, chairman of Bitmine, the company”s primary objective remains to create value for stockholders through strategic acquisitions of ETH and optimizing returns on its holdings. As the market enters the final weeks of the year, Fundstrat has noted a slowdown in trading activity, with BMNR stock being one of the most actively traded in the U.S. markets, although trading volume has seen a notable decrease recently.
In conjunction with the Ethereum acquisition, Bitmine is preparing for its upcoming annual stockholder meeting scheduled for January 15, 2026. Stockholders will be asked to approve four key proposals aimed at enhancing the company”s holdings, including the election of eight directors and the approval of a new incentive plan.
As for Ethereum”s market performance, the price was observed at $2,926 during this report, with a 24-hour trading range between $2,908.75 and $3,051.94. Analysts are closely monitoring the price movement, indicating that a crucial resistance level lies between $3,050 and $3,150. A breakthrough above these levels could signal a potential rally towards $3,700, while failure to maintain above $3,000 could lead to a corrective pullback to lower levels.
The derivatives market reflects a mixed sentiment regarding ETH, with total futures open interest showing a slight increase. However, some platforms reported declines in open interest, suggesting a cautious stance among traders as they navigate the current market dynamics.
