Key Highlights
- BitMine has announced the acquisition of 138,452 ETH tokens, bringing its holdings to 3,864,951 ETH
- This acquisition comes after the Fusaka upgrade, which also soared the ETH price by 13% in a week
- According to Tom Lee, the cryptocurrency’s supercycle is still active, and the best years are yet to come
On Monday, BitMine Immersion, the biggest Ethereum holding company, announced the growth in its Ethereum holdings, revealing that the company acquired 138,452 ETH tokens last week.
(Source: BitMine on X)
With this acquisition, BitMine Immersion is now holding over 3.2% of the total supply of Ethereum. At present, the company holds over 3,864,951 ETH at $3,139 for each token. The cumulative worth of this Ethereum holding is around $12.18 billion.
Thomas “Tom” Lee of Fundstrat, Chairman of BitMine, stated in the press release, “In the past week, BitMine acquired 138,452 ETH tokens. This is a meaningful increase of 156% compared to the 54,156 weekly pace of 4 weeks ago (the week of Nov 17). Our stepped up buying activity reflects our confidence that ETH prices should strengthen in the months ahead given multiple catalysts.
“The Fusaka upgrade, aka Fulu-Osaka, activated on December 3rd, delivers an array of improvements in scalability, enhanced security, and usability. The Federal Reserve is taking several key steps in December including ending QT (quantitative tightening) and is expected to cut interest rates again on December 10th. We are now more than 8 weeks past the October 10th liquidation shock event, a sufficient length of time to allow crypto to again trade on forward fundamentals,” Lee said.
The acquisition of additional Ethereum follows the cryptocurrency’s strong upward momentum after the Fusaka upgrade. After dropping drastically following the October 10 liquidation, Ethereum has started showing a strong sign of recovery as it soared by 13% on the weekly chart. At the time of writing, the cryptocurrency is trading at around $3,100 with an impressive market capitalization of $374.39 billion.
The Best Years are Ahead for Crypto: BitMine’s Tom Lee Believes the Supercycle is Still Active
In a December Chairman’s message from BitMine named “The Crypto Supercycle is Intact,” Tom Lee shared a bullish outlook for the digital asset sector in 2026 and the upcoming years.
Tom Lee said, “The best years are ahead for crypto given the substantial upside to current adoption rates for crypto and given the coming transformation as Wall Street tokenizes everything onto the blockchain.”
According to Tom Lee, the future of the Ethereum ecosystem seems very promising by pointing out rapid growth in the innovative concepts, including tokenization, stablecoins, layer-2 solutions, and others.
One of the major innovations is taking place on the blockchain as large financial institutions begin moving real-world assets through the process called tokenization.
After years of ambiguity, Wall Street has finally understood the hidden potential of blockchain-based innovations. Tokenization involves converting things like treasury bonds, real estate, and commodities into digital tokens on Ethereum. According to CoinMarketCap, the blockchain captured over 91% of the total tokenization market with $3.4 billion in market capitalization.
According to the report, the tokenization market is expected to reach approximately $13 trillion by the year 2030. The report suggests that the market for tokenizing physical and financial assets could soar to a whopping value ranging from $4 trillion to $30 trillion by the end of the decade.
Stablecoins have also become Ethereum’s most widely used application. After U.S. President Donald Trump signed the GENIUS Act into law in 2025, financial institutions and banks are now rushing to introduce their USD-pegged stablecoins. This includes big names like JPMorgan, Goldman Sachs, and others.
This regulatory clarity and participation from the big players have fueled a surge in the stablecoin market, with the total market capitalization now revolving around $316.67 billion. Major stablecoins like USDT and USDC have originated from Ethereum.
“We continue to make progress on our staking solution known as The Made in America Validator Network (MAVAN). This will be the ‘best-in-class’ solution offering secure staking infrastructure and will be deployed in early calendar 2026,” Lee said.
