Bitmine’s Ethereum Stash Hits 4M – 5% Goal in Sight? 🚀

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Once upon a time, in a land of digital gold, a peculiar company named Bitmine Immersion Technologies decided to hoard Ethereum like a dragon with a sweet tooth. And lo! They now possess over 4 million ETH, a treasure so vast it could buy a small island (or a few dozen pizzas). 🐉💰

  • Bitmine now holds 4,066,062 ETH worth over $12 billion, acquired at an average price of $2,991. A veritable treasure trove for the digital age! 💰
  • Recent acquisitions included a 13,412 ETH purchase on Dec. 22. A sneaky move, if you ask me. 🕵️‍♂️
  • Bitmine’s ETH holdings represent about 3.37% of the total Ether supply. Not quite 5%, but close enough for a Roald Dahl tale! 📏

“Bitmine continues to add steadily to its ETH holdings, adding 98,852 ETH in the past week, and Bitmine holdings now exceed the crucial 4 million ETH tokens,” said Bitmine Chairman Thomas “Tom” Lee in an official press release. A declaration as dramatic as a witch’s spell. 🧙‍♂️

According to the enigmatic on-chain analytics platform Lookonchain, Bitmine’s most recent purchase was executed on Dec. 22, when it acquired 13,412 ETH, valued at $40.61 million at the time. With this, the company’s total ETH stash amounts to 4,066,062 Ether, all acquired at an average price of $2,991 per token. A digital dragon’s lair, if ever there was one. 🐉

Over the long haul, the company wants to accumulate 5 percent of the total Ether supply. As of press time, it is already two-thirds of the way there, with Bitmine currently controlling 3.37% of circulating ETH. A daring quest for digital dominance! 🏆

“We are making rapid progress towards the ‘alchemy of 5%’ and we are already seeing the synergies borne from our substantial ETH holdings,” Lee noted. A mad scientist’s dream, perhaps? 🔬

Bitmine first began its Ethereum buying campaign back in June and has built itself into the top ETH treasury in less than six months, a feat which Lee framed as a “tremendous milestone.” A digital odyssey of epic proportions! 🧭

Alongside ETH, Bitmine also boasts a strong balance sheet with $1 billion in cash holdings. Meanwhile, its investment portfolio comprises 193 Bitcoin and a $32 million stake in Eightco Holdings. A financial wizard’s portfolio! 🎩

Bitmine Shares: A Rollercoaster of Digital Dreams!

As of last check, Bitmine shares were up roughly 606% since the company pivoted to its Ethereum-first strategy. Over the past few months, however, share prices have struggled to maintain momentum as ETH slipped to multi-month lows. A rollercoaster ride with a twist! 🎢

It briefly reclaimed the $3,000 mark this weekend, but has since dipped lower and is currently trading slightly below Bitmine’s average ETH purchase price. A digital yo-yo! 🎠

However, crypto.news analysts believe the company’s valuation is positioned to climb higher in the coming months due to a number of technical and fundamental reasons. A prophecy of digital prosperity! 📜

One of the key catalysts that could drive further upside is the company’s Made in America Validator Network (MAVAN) initiative, which is expected to launch in the first quarter of 2026. It is projected to help Bitmine generate staking income on its ETH holdings, thereby improving its long-term value proposition for shareholders. A digital phoenix rising! 🦅

The company’s recent buy also comes ahead of its annual stockholders meeting, which will be held at the Wynn Las Vegas on Jan. 15. A gala of digital fortunes! 🎩

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2025-12-23 11:01