Ethereum's Value Surges as BMNR Announces Plans to Purchase $25 Billion Worth of Assets
BitMine Immersion Leads Ethereum Buying Spree, Aims to Own 5% of Total Supply
In a significant move for the crypto market, BitMine Immersion Technology (BMNR) has set its sights on accumulating a substantial amount of Ethereum (ETH). As of August 2025, the company already holds approximately 1.57 million ETH, valued at around $6.6 billion, making it one of the largest corporate Ethereum holders globally.
Tom Lee, BitMine's CEO, has announced ambitious plans to own 5% of the total ETH supply. To fund this ambitious endeavour, the company is planning to raise up to $20 billion through stock sales. This follows a near-complete sell-out of its previous $4.5 billion authorized stock sale program.
BitMine views its large Ethereum reserves not just as an investment, but also as critical infrastructure for generating staking yields and competing in decentralized finance (DeFi) markets. The company has demonstrated its commitment to buying ETH, even during market dips. A recent purchase of 52,475 ETH worth $220 million during a dip below $4,200 per ETH is a testament to this strategy.
The strategic pivot from Bitcoin mining towards building a dominant Ethereum treasury under Tom Lee's leadership has attracted substantial market attention. The company has recorded high trading volumes on its stock, allowing for efficient capital raise with minimal price impact.
Tom Lee is confident in Ethereum’s long-term macro investment potential, comparing Ethereum’s current market position to Bitcoin’s growth phase in 2017. He projects ETH prices could reach between $7,000 and $15,000 by the end of the year. BitMine's ongoing accumulation and staking strategy position it for significant influence in the evolving Ethereum ecosystem.
Meanwhile, the overall market cap in the AI sector of crypto is up 8%. GAMBLE (+50%), YNE (+50%) and Realis (+42%) led top movers in the AI sector, while CryptoFish (+60%) and Azuki (+8%) are notable top movers in NFTs. Beeple has announced that his next NFT event will be hosted by Danny McBride, and 2 'Politics Is Bullshit' editions were bought for 52 ETH each.
In the broader crypto landscape, Ryan Adams, from Bankless, commented on the news, stating, "Tom Lee just filed to expand his ETH buys by $20 billion." CryptoPunks hit a $250,000 floor in the ETH move to $4,600. Ripdoteth on X mentioned that Tom Lee aims to buy $20 billion worth of Ethereum in a single year, with the goal of achieving 5% of the total Ethereum supply, and doing so at a pace 12 times faster than Michael Saylor. FARTCOIN (+30%), VIRTUAL (+8%), TIBBIR (+15%), ai16z (+13%) & AIXBT (+8%) are leaders in the sector.
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