BitMine has added another $150 million in Ether to its treasury, pushing its holdings past 3 percent of Ethereum’s total supply as it eyes a bold 5 percent ownership target.
Key Takeaways
- BitMine purchased $150 million worth of ETH, acquiring nearly 97,000 tokens through Kraken and BitGo.
- The company now holds over 3 percent of Ethereum’s total supply, aiming to hit a symbolic 5 percent milestone.
- Chairman Tom Lee believes Ethereum is entering a “supercycle”, boosted by the Fusaka upgrade and macroeconomic shifts.
- BMNR stock jumped 15 percent following the announcement, reflecting investor optimism in BitMine’s aggressive strategy.
What Happened?
BitMine, a crypto treasury powerhouse led by Tom Lee and backed by major players like Founders Fund and ARK Invest, recently made headlines by purchasing $150 million in Ether. The move follows weeks of steady accumulation and puts BitMine in control of more than 3 percent of Ethereum’s circulating supply.
This purchase aligns with BitMine’s long-term strategy of acquiring up to 5 percent of Ethereum’s total supply, which Lee describes not merely as a store of value but as foundational infrastructure for future financial systems.
BREAKING: 🇺🇸 Tom Lee’s BitMine has just bought $150 million worth of Ethereum. pic.twitter.com/RcdtC43eHw
— Ash Crypto (@AshCrypto) December 4, 2025
BitMine’s Bold Ethereum Play
The latest acquisition is one of the largest by any public crypto treasury in 2025. BitMine made the buy through Kraken and BitGo, adding 96,798 ETH in a single week. On-chain data confirmed 18,345 ETH came via BitGo and 30,278 through Kraken, with the rest following the company’s prior buying pattern.
Unlike many firms reducing their digital asset exposure, BitMine has increased its weekly ETH purchases by 39 percent, demonstrating a bullish stance even amid market volatility.
- Ethereum ETF inflows topped $140 million on the same day, signaling broader institutional confidence.
- Bitcoin products, by contrast, saw $15 million in outflows, according to DeFiLlama.
The firm’s stock, BMNR, rallied 15 percent in December, with investors responding positively to the aggressive accumulation. Technical indicators like the CMF and OBV suggest rising institutional interest, with some analysts eyeing a bullish price target of $52.70, up 55 percent from its recent level of $33.59.
Fusaka Upgrade and Fed Tailwinds
Timing is a major factor in BitMine’s strategy. Ethereum recently deployed the Fusaka upgrade, its second major improvement this year. The update enhances scalability and security, reinforcing Ethereum’s role as a financial infrastructure layer.
At the same time, macroeconomic conditions appear favorable. The Federal Reserve is widely expected to cut interest rates on December 10, a shift that typically benefits risk assets like crypto. Fed officials including Waller, Daly, and Williams have signaled easing may be on the way.
- CME FedWatch Tool places rate cut odds at 87 percent.
- Polymarket bettors are even more confident, showing 94 percent probability.
Tom Lee sees this convergence of technology and policy as a launchpad. “We believe ETH is embarking on that same Supercycle,” he wrote, likening Ethereum’s current phase to Bitcoin’s 2017 pre-rally era.
Governance Moves and Staking Plans
BitMine’s aggressive ETH strategy is backed by governance upgrades, including a new CEO and three independent directors. The firm is also planning to distribute a year-end dividend on December 29, a rare move among crypto treasuries.
Looking ahead, BitMine plans to launch The Made in America Validator Network, a staking infrastructure platform scheduled for 2026. Lee described it as a “best-in-class” solution to offer secure, high-performance ETH staking.
CoinLaw’s Takeaway
In my experience, when a company like BitMine puts this kind of capital into Ethereum, it sends a serious signal to the market. They’re not speculating, they’re building. This is about more than price, it’s about control, infrastructure, and long-term positioning. BitMine isn’t just buying ETH for upside, they’re preparing to become a core player in Ethereum’s future. And if the Fed really does ease up in December, that could light a fire under their bet. Personally, I found the 39 percent boost in weekly ETH buying to be the most telling stat. That’s not gradual scaling. That’s conviction.
