Bitmine Immersion Technologies added $2.2 billion to its Ethereum treasury in a single day as ETH's price rallied 20% and pushed above $2,200. Chairman Tom Lee says the move reflects Wall Street pricing in Ethereum's utility rather than treating it as a speculative asset, tying its future to AI and robotics. The portfolio still carries an unrealized loss despite the overnight gain.
Bitmine Immersion Technologies (BMNR) added $2.2 billion to its crypto reserves in a single day, according to CryptoQuant analyst Maartunn. The gain came as Ethereum rallied 20% and pushed above $2,200. The company holds 5.815 million ETH — nearly 4.8% of Ethereum's circulating supply.
Treasury value jumps to $13.2 billion
At the start of the week, Bitmine's ETH portfolio was valued at $11 billion. Following the price surge, its value reached $13.2 billion, making the company the main institutional beneficiary of the current market momentum.
Bitmine keeps buying and staking ETH
The company has purchased ETH every week for more than a year and has staked 87% of its reserves. That staking position generates approximately $250 million in fixed annual income. Management is also buying back the company's own shares on the stock market.
Yet the position remains underwater. According to DropsTab, the portfolio carries a global unrealized loss of $6.09 billion, or 31.25%. The company has invested $19.49 billion at an average purchase price of $3,357.63 per ETH.
Tom Lee ties Ethereum's rally to AI
Bitmine chairman and Fundstrat co-founder Tom Lee argues that Ethereum's breakout above the 0.02994 level against Bitcoin marks a fundamental shift, with Wall Street now pricing in the asset's utility value rather than treating it as speculative. He links this to the growth of artificial intelligence and robotics, pointing to humanoid robots that already run faster than 12 meters per second and are merging into a cloud-based collective intelligence, in which Ethereum smart contracts would serve as the underlying operating system.
According to Fundstrat: "Ethereum (ETH) will be the most important L1", Tom Lee explains. Fundstrat contrasts BlackRock's view of Bitcoin as passive "digital gold" with Ethereum becoming "digital oil" — the settlement layer for the future AI economy.
Source: U.Today
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