BitMine Immersion Acquires 163,000 ETH in Major Crypto Move

• Lyla Velez
• July 15, 2025
• Business
• 0 Comments

BitMine Immersion Technologies has acquired 163,000 ETH, valued at approximately $500 million, days after concluding a $250 million PIPE fundraising round led by MOZAYYX.

BitMine’s acquisition highlights the strategic move towards Ethereum as a core asset, facilitated by a major fundraising round. The development mirrors MicroStrategy’s BTC strategy, hinting at increased institutional adoption and market confidence.

BitMine Immersion, led by CEO Jonathan Bates and newly appointed Chairman Tom Lee, executed a significant transaction by acquiring 163,142 ETH following a $250 million PIPE raise. The strategic acquisition more than doubles their initial investment value, enhancing the company’s Ethereum reserves significantly. Lee emphasized Ethereum’s pivotal role in stablecoin transactions, marking a strategic focus shift with Ethereum as a primary asset.

“Ethereum is the blockchain where the majority of stablecoin payments are transacted and thus, ETH should benefit from this growth…Increasing ETH held per share will become a key metric for BitMine.” – Thomas Lee, Chairman, BitMine Immersion

Following BitMine’s aggressive Ethereum buy, its stock surged over 400%. This reflects investor confidence in the company’s crypto treasury strategy. The acquisition also potentially diminishes the Ethereum supply, aligning with narratives around post-Merge yield potential.

The acquisition by BitMine has initiated a noteworthy impact, with significant implications for the cryptocurrency realm. Analysts compare the event to MicroStrategy’s Bitcoin strategy, suggesting a fortified ETH market position and bolstered institutional presence. The move aligns with expectations of Ethereum as a central crypto asset, especially in stablecoin transactions.

Industry experts see parallels between BitMine’s Ethereum strategy and MicroStrategy’s earlier Bitcoin accumulation. Such strategies often create market confidence, suggesting a perceived price floor. With stablecoins increasingly settling on Ethereum, a further boost for ETH is anticipated.