Bitmine Invests $105M in ETH for Blockchain Growth

Crypto News Business

Bitmine Buys $105M in ETH, Sets Stage for Next Blockchain Wave

Written by Aaron S.,

Editor-In-Chief

Last Updated: January 08, 2026

Key Takeaways

BitMine spent $105 million on Ethereum in early 2026, which increased its holdings to 4.07 million ETH worth about $12.6 billion;
The firm still has $915 million in cash and aims to reach 5% of the total Ethereum supply through continued purchases;
Chairman Tom Lee expects ETH to dip to $1,800 mid-2026 before recovering later in the year.

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Bitmine Buys $105M in ETH, Sets Stage for Next Blockchain Wave

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BitMine Immersion Technologies has started 2026 with another large Ethereum ETH $3,089.78 purchase.

According to blockchain data shared by Arkham on January 8, the company spent about $105 million on Ethereum in its first recorded buy of the year.

BitMine owns roughly 4.07 million ETH, valued at $12.6 billion, according to figures from StrategicEthReserve.

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The company still holds about $915 million in cash, as stated in its January 5 update. BitMine has suggested this cash could go toward future Ether purchases. Its goal remains to control 5% of the total ETH supply.

Recent blockchain activity showed that BitMine has also been expanding its staking operations. Data from Lookonchain indicated that the firm has staked more than $2.87 billion in Ethereum.

Tom Lee, BitMine’s chairman and co-founder of Fundstrat Global Advisors, said that while Ethereum may see a short-term dip, he expects a stronger recovery later in the year.

In an internal note shared on X, Lee predicted the price could fall to around $1,800 in the first half of 2026 before offering “attractive opportunities into year-end".

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