BitMine reports $13.2 billion in holdings as ETH treasury expands after November slowdown

BitMine Immersion Technologies disclosed in an 8-K filing that its total crypto, cash, and 'moonshot' assets reached $13.2 billion as of December 7. This included 3,864,951 ETH, 193 bitcoins, $1 billion in cash, and a $36 million stake in Eightco Holding, which focuses on the WLD token. The firm significantly increased its ETH purchases, acquiring 138,452 ETH (worth about $430 million) in the past week, a notable acceleration from the 80,000 ETH weekly pace seen throughout November. Chairman Tom Lee stated the increased buying reflects confidence that crypto markets have stabilized since the October liquidation event, citing macro shifts and Ethereum's recent Fusaka upgrade as reasons for expecting stronger demand into early 2026. Lee also highlighted that institutional tokenization of financial products, potentially involving a quadrillion dollars in assets, could be a major demand driver, calling stablecoins "Ethereum’s ChatGPT moment."

(Source：The Block)