Despite the caution surrounding the cryptocurrency market, enthusiasts remain optimistic about its long-term potential. The modest gains observed in altcoin prices today indicate a positive trend, as Bitcoin 
$89,309‘s price surpassed $90,000. This development coincides with BitMine’s announcement of a new Ethereum 
$2,930 acquisition, continuing their purchasing spree despite the months-long market downturn.
BitMine’s Ethereum Purchase
BitMine Immersion (BMNR) recently revealed that it acquired an additional 98,852 ETH in the past week. At current prices, this acquisition amounts to roughly $300 million, increasing the company’s total assets to 4.07 million Ether. With this move, BitMine has reached 3.37% of the total Ethereum supply, edging closer to its 5% target. The company’s total crypto and cash assets now exceed $13.2 billion, and they plan to acquire an amount equal to 1.63% of the Ethereum supply to meet their goal—a task that involves purchasing about half of what they have acquired so far.
Since beginning their purchases in June, BitMine is nearly reaching their year-end goal, having completed more than half of the journey. They have also managed to reduce costs significantly with their latest purchases while Ethereum remains around $3000.
Previously one of the top 40-50 traded stocks, BitMine has slid to the 66th rank due to reduced volume. It currently trades with a daily volume of $1.7 billion.
Shareholder Meeting and Lee’s Statements
Holding 4,066,062 ETH, BitMine still possesses $1 billion cash for additional purchases. Tom Lee, the company leader, commented on their staking solution known as The Made in America Validator Network (MAVAN) and the current situation. Lee expressed their rapid progress toward the ‘5% Alchemy’ goal, with emerging synergies from their significant ETH holdings. BitMine is pivotal in facilitating Wall Street’s shift to blockchain through tokenization and continues collaborating with key organizations to develop state-of-the-art technologies in the DeFi community.
“We are swiftly advancing towards our ‘5% Alchemy’ and already witnessing synergies from our substantial ETH assets. As a key organization, we ease Wall Street’s transition to blockchain via tokenization and collaborate intensively with significant entities developing cutting-edge technologies in the DeFi community. Our progress with the Made in America Validator Network (MAVAN) continues, promising to offer a ‘best-in-class’ secure staking infrastructure by early 2026.”
BitMine will hold its annual shareholder meeting on January 15, 2026, at Wynn Las Vegas, with an anticipated agenda.
- Election of 8 new directors.
- Approval of an amendment to increase authorized shares.
- Approval of the 2025 Omnibus Incentive Plan.
- Consideration of a non-binding advisory vote on performance-based compensation for the chairman.
Apart from MAVAN, no other significant plans seem set for 2026.
