BitMine Immersion Technologies, known for holding the most Ether of any company, started the new year by buying more cryptocurrency.
On Wednesday, they bought a huge $105 million worth of Ether. Arkham, a blockchain data platform, revealed the deal in an X post, showing that the company is still quite confident in Ethereum’s future, even though analysts expect the price to decline in the near term.
This most recent purchase brings BitMine’s treasury to 4.07 million Ether, which is worth $12.6 billion and makes up 3.36% of the total ETH supply, according to data from StrategicEthReserve. According to its most recent Monday report, the business still has a strong $915 million in cash reserves, which gives it plenty of liquidity to buy more ETH as it moves towards its goal of controlling 5% of the supply.
This financial firepower shows that BitMine is building its Ethereum position in a turbulent market in a disciplined but aggressive way. In addition to these purchases, the company has greatly increased its staking activities.
Blockchain tracker Lookonchain reports that over $2.87 billion in staked Ether has been added in the last few days, with almost 128,000 tokens added. These kinds of moves not only make money, but they also show that you are committed to Ethereum’s proof-of-stake ecosystem for the long term.
Leadership Shows Hope in the Face of Expected Volatility
Tom Lee, the chairman of BitMine and co-founder of Fundstrat Global Advisors, supports this plan because he believes current market conditions are favorable for accumulation.
Lee predicted a “meaningful drawdown” for Ether to around $1,800 during the first half of 2026, in an internal note shared on social media. He called this level “attractive opportunities into year-end.” His view is a mix of short-term prudence and deep belief in Ethereum’s long-term value, which fits perfectly with BitMine’s plans to grow its treasury.
Xue told Cointelegraph, “The repricing wasn’t just about valuations; it was also about repricing risk.” The industry has accepted infrastructure that is compliant and can be verified in real time, making it easier for institutions to do business. He went on to say, “2026 may not be a retail frenzy, but we should see liquidity move around, and crypto will finally work as the backend for global finance.”
Jamie Coutts, the head crypto analyst at Real Vision, agreed with this view and said the poor performance of altcoins in 2025 was a necessary “repricing” in line with core protocol fundamentals, network expansion, and the start of multi-year institutional inflows.
When you put all this information together, it shows that the market is maturing and that corporate treasuries like BitMine’s are crucial to keeping Ethereum stable and moving it forward.
