Tom Lee’s BitMine Buys $82 Million ETH, Shares Soar 11%

Tom Lee’s BitMine Immersion Applied sciences purchased $82 million Ethereum (ETH), sending its shares hovering 11%.

In response to on-chain information from Arkham Intelligence cited by Lookonchain, the world’s largest ETH treasury firm purchased one other 28,625 tokens.

The bounce again comes after a tough month for BitMine throughout which its shares plummeted greater than 42% amid doubts over whether or not its ETH treasury enterprise mannequin is sustainable.

BitMine share worth (Supply: Google Finance)

The shares are nonetheless down 6% up to now week however have soared 190% up to now six months and 270% to date this 12 months. ETH is up 1% up to now 24 hours to commerce at $2,854.71 as of 11:27 a.m. EST.

Nonetheless, DropsTab estimates that the 27.5% plunge within the ETH worth up to now month has left BitMine sitting on an unrealized lack of $4.39 billion on its ETH holdings.

Regardless of that, BitMine reported on Nov. 21 a web revenue for its 2025 fiscal 12 months of $328.1 million, with earnings per share coming in at $13.39. 

The corporate additionally declared its first annual dividend of $0.01 per share, and disclosed plans to launch a “Made-in America Validator Community,” which is a devoted staking providing that may see the corporate put its large ETH holdings to work. 

Bitwise Says That Most Treasury Corporations Received’t Maintain Premiums

Bitwise chief funding officer Matt Hougan mentioned in an X thread that in future most crypto treasury corporations ”will commerce at a reduction, and just a few distinctive corporations will commerce at a premium.”

In the meantime, spot crypto ETFs are more likely to change into ”DAT killers,” Nate Geraci, president of NovaDiusWealth, mentioned in a submit on X, referring to Digital Asset Treasury corporations equivalent to BitMine.

”DATs thrived by way of regulatory arbitrage,” he mentioned. ”That sport is just about over now.”

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