Catenaa, Tuesday, December 02, 2025- NYSE-listed bitcoin miner BitMine Immersion purchased over $265 million in Ethereum last week, increasing its holdings to 3,726,499 ETH, worth roughly $10.1 billion.
The firm also holds 192 Bitcoin valued at about $16 million and $882 million in unencumbered cash.
Despite the purchase, BitMine’s stock fell 12% on Monday to $29.10 per share, while Ethereum slid nearly 10% to $2,745 per coin.
The firm paid an average of $3,008 per ETH. BitMine’s Chair, Tom Lee, noted that markets had stabilized following the October crash, prompting a 39% increase in weekly Ethereum purchases.
The broader crypto market has struggled since August, with Ethereum down 45% from its record $4,946, and Bitcoin trading near $85,000, off 32% from its October high.
BitMine’s stock remains up 301% year-to-date, but investor caution is rising amid volatility in both ETH and crypto treasury stocks.
Other crypto treasury companies are taking protective measures. Strategy, a leading Bitcoin treasury firm, recently created a $1.44 billion USD reserve to provide consistent dividends while managing BTC holdings.
Shares of other treasury-focused firms, including MicroStrategy, have also declined significantly, reflecting broader market uncertainty despite ongoing crypto-friendly policies from U.S. regulators.
