Bitmine Immersion Technologies has expanded its Ethereum holdings with the acquisition of 14,959 ETH for $46 million on December 8, 2025. This purchase increases Bitmine's total Ethereum holdings to over 3.86 million tokens, aligning with its strategy to control more than 3% of Ethereum's total supply. The company's weekly Ethereum purchases have surged by 156% compared to four weeks ago, reflecting a strong risk-to-reward outlook. Chairman Tom Lee is spearheading the initiative to build one of the largest Ethereum treasuries in the industry.