Key Notes
- Tom Lee’s BitMine Immersion Technology has decided to buy the dip, adding 109,485 ETH to its holdings.
- It now holds a total of 1,297,093 ETH, valued at approximately $5.68 billion.
- BitMine increased its equity program from $5 billion to $24.5 billion, all for the purchase of more Ethereum.
While other investors are mourning the drop of Ethereum (ETH), Tom Lee’s BitMine Immersion Technology has decided to buy the dip instead. Blockchain analytics platform Lookonchain reported that the company has recently acquired an additional 106,485 ETH. This buy-up further expands its Ethereum bag, a stash considered one of the largest among its corporate pairs.
BitMine Utilizes OTC For Ethereum Purchases
BitMine has added 106,485 ETH, bringing its total holdings to 1,297,093 ETH. Notably, the second-largest cryptocurrency by market capitalization is currently trading at $4,384.05.
At this price level, BitMine’s recent purchase is valued at $466.83 million while its entire holding is equivalent to $5.68 billion. This is only one of the Ethereum purchases that the public Bitcoin (BTC) mining firm has engaged in recently.
The company made most of these purchases via large over-the-counter (OTC) deals as well as direct transfers from intermediaries like Galaxy Digital, FalconX, and BitGo.
Apart from BitMine’s acquisition, an unidentified whale was spotted with a massive purchase of 92,899 ETH, worth around $415 million. There is suspicion that this entity is planning to hold this holding for a long time, especially after it set up three new wallets before moving the funds from the Kraken crypto exchange.
SharpLink and BitMine Take a Bet on Ethereum
Generally, there has been a growing Ethereum accumulation trend among top institutions. SharpLink is one of such companies, and this strategy has earned it the position of the second-largest corporate Ethereum holder.
This firm boasts of up to 728,804 ETH in its portfolio, estimated to be valued at approximately $3.3 billion. SharpLink made ETH its primary treasury reserve asset back in June.
🚨 BREAKING:
BITMINE BOUGHT $500M $ETH IN THE LAST 10 HOURS
THEY NOW HOLD $5.8 BILLION ETH
AND ARE PLANNING TO BUY ANOTHER $20 BILLION IN NEXT 3 MONTHS
THIS IS GIGA BULLISH FOR ETH pic.twitter.com/tm8qUAvf7m
— Rekt Fencer (@rektfencer) August 16, 2025
BitMine is working on making more Ethereum purchases, and to this end, it has increased its equity program from $5 billion to $24.5 billion. This represents a fivefold expansion for the firm.
It filed its at-the-market equity program by $20 billion, bringing its total capacity to $24.5 billion. In its filing submitted to the United States Securities and Exchange Commission (SEC), BitMine disclosed that Cantor Fitzgerald & Co. and ThinkEquity LLC will handle its equity offering.
The commission on the gross proceeds is as high as 3% and the stocks will be sold through different channels, such as the direct NYSE American trading.
Become a Billionaire With Bitcoin Hyper
SharpLink and BitMine may have to consider taking a slice of Bitcoin Hyper (HYPER) just as they have of Ethereum. The HYPER project, with an ongoing presale, delivers a promising Layer 2 solution for BTC to risk-hungry investors.
BTC Hyper Presale
It has several features similar to the Solana blockchain, including enhanced transaction speeds and reduced costs. HYPER also leverages Bitcoin’s security and has seen massive adoption from crypto risk-takers. There are only about 20 hours left before a price adjustment is made.
Current Presale Stats:
Current Price: $0.012735
Amount Raised So Far: $9.9 million
Participation in the presale can be done via ETH, BNB, USDT, or credit card directly on the official Bitcoin Hyper website, with Best Crypto Wallet recommended for token management. Investors seeking new opportunities can participate in the presale.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
