BitMine Isn’t Stopping! Buys Additional 69,822 ETH Amid Downtrend

Following the purchase, BitMine has acquired 3% of the ETH supply and still holds about $800 million to spend on subsequent ETH shopping.

Samuel Wilfred•November 24, 2025

Amid the crypto market downturn, the world’s leading corporate ETH investor, BitMine, has shown unshakable confidence in Ether. As revealed in a recent social media post, it had boosted its stash by an additional 69,822 ETH, scooping up the world’s second-largest cryptocurrency at a very low price.

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BitMine provided its latest holdings update for Nov 24th, 2025:
$11.8 billion in total crypto + “moonshots”:
-3,629,701 ETH at $2,840 per ETH (@coinbase )
– 192 Bitcoin (BTC)
– $38 million stake in Eightco Holdings (NASDAQ: ORBS) (“moonshots”) and
– unencumbered cash of $800…
— Bitmine (NYSE-BMNR) $ETH (@BitMNR) November 24, 2025

A week earlier, it purchased 54,156 ETH and has continued with its weekly purchase spree since September 2025.

69,822 ETH Addition

According to BitMine’s Monday press release, it now holds 3,629,701 ETH worth about $10.3 billion. It now accounts for 3% of the circulating ether supply. As such, its reserve, including cash and moonshots, is valued at $11.2 billion.

Notably, BitMine announced its ETH reserve in June 2025 and has since acquired the crypto amid various market conditions. Thus, as the market dipped and it filled its bags, BitMine’s average purchase price for Ether is now around $2,840 per ETH.

“The continued decline in crypto prices in the past week reflects the impaired liquidity since October 10th, as well as price technicals, which remain weak. A few weeks ago, we noted the likely downside for ETH prices would be around $2,500, and current ETH prices are basically there. This implies asymmetric risk/reward as the downside is 5% to 7%, while the upside is the supercycle ahead for Ethereum.”

Says Tom Lee, BitMine’s CEO, who has built his name over the years for being bullish on Ether, commented on the company’s latest purchase.

Investors Accumulate BitMine Shares

No doubt, the miner’s extensive ETH purchase notwithstanding its market price, places it in a position for future profits whenever the token recovers in price and shoots up to a new all-time high.

Hence, many pro-crypto investors seeking indirect exposure to Ether have turned attention to BitMine’s BMNR stock listed on the New York Stock Exchange (NYSE). It now ranks among the top 50 most widely traded stocks in the U.S. Moreover, despite the market downtrend, data from Google Finance shows that it is still up by over 150% over the past six months.