BitMine Immersion Technologies isn’t slowing down its Ethereum accumulation. Despite a sharp decline in demand for its Digital Asset Trust (DAT) products, the Tom Lee–backed firm has invested an additional $150 million in ETH, signaling its confidence in the asset amid volatility.
BitMine Doubles Down on Ethereum as Prices Cool Off
According to blockchain analytics firm Arkham Intelligence, Bitmine boss Tom Lee has purchased $150 million worth of ETH tokens, adding to the firm’s already substantial stash of Ether. Arkham revealed this information in an X post on December 3, 2025, highlighting that the transaction was made on two exchanges, Kraken and BitGo, using two fresh wallets.
Meanwhile, the recent purchase is another step toward the company’s goal of owning 5% of Ether’s total supply. Instead of pulling back amid Ethereum’s recent sluggish price action, BitMine is leaning in to buy at a discount.
Further, while ETH has been struggling to build momentum due to muted trading volumes and uncertain investor sentiment, BitMine seems to view this weakness as an opportunity. Additionally, BitMine’s chair, Tom Lee, has long argued that Ethereum’s real upside comes from its role as the backbone of decentralized applications, staking, and future institutional infrastructure.
DAT Product Activity Falls Sharply by 81%
In other news, Bitmine’s recent ETH purchase coincided with a Bitwise report showing that ETH DAT purchases have declined by 81%, one of the steepest drops since the trust launched. Bitwise’s senior research associate, Max Shannon, revealed this in an X post, highlighting how Ether DAT purchases have been depleting over the past few months using an image chart.
Interestingly, these DAT products aim to help mainstream investors gain tokenized exposure to a basket of digital assets; yet, demand has dried up as institutions become more cautious. Analysts attribute the drop to shifting market preferences, regulatory concerns, and a general pullback from structured crypto exposure.
Lee’s Long-View Strategy Centers on Ethereum’s 2026 Potential
Tom Lee has never been shy about calling bold market moves, and he’s been consistent in saying Ethereum is poised to outperform next year, speculating a surge above $5,000 for Ether. With network upgrades set to enhance speed and reduce fees, BitMine anticipates fresh institutional adoption and new on-chain demand.
Furthermore, by investing $150 million in ETH during a market lull, BitMine is positioning itself strategically to capitalize on a potential shift in sentiment. The firm is effectively signaling that it’s thinking in quarters and years, not weeks.
The CoinRemark Team
