## Ethereum surpasses 3.97 million ETH held by BitMine as leader Thomas Lee declares market sufficiently resilient

BitMine, the corporate treasury fund holding the largest amount of Ethereum on the market, has just announced an additional purchase transaction worth $320 million, bringing the total tokens owned to 3.97 million ETH. This figure is equivalent to approximately $375 billion in current market value, accounting for over 3.2% of the total circulating supply of Ethereum.

### Long-term accumulation strategy amid stable market conditions

The company currently holds a total of $13.3 billion in digital assets and cash. Ethereum is the main addition to its portfolio, though BitMine also maintains a small position in Bitcoin ($91.36K, down 1.72% in the past 24 hours), and cash reserves.

In an official statement on Monday, Chairman Thomas Lee emphasized that current market conditions are sufficiently resilient to justify expanding exposure to Ethereum. He pointed out that lower volatility and clear improvements in the legal framework are key factors driving the company's decision to continue accumulating.

BitMine’s buying approach has always been based on large-volume transactions executed at adjusted price levels, rather than gradual purchases over time. A strong buying streak from early December 2025 has continued. In the week ending December 7, the company added 138,452 ETH (approximately $435 million). A week later, BitMine further added 102,259 ETH (nearly $320 million). These moves have brought the company close to reaching 4 million ETH.

### From the development decision in June to the current nearly 4 million ETH

The accumulation process began in June 2025, when the legal environment became more favorable. The approval of Bitcoin and Ethereum ETFs in the US in 2024 opened the door for publicly traded companies to hold digital assets directly. Applying fair value accounting standards for cryptocurrencies and shifts in US regulatory policies have triggered corporate demand for direct exposure to digital assets.

From June to August, BitMine built its initial position, reaching 1.297 million ETH by August 16. The pace of accumulation accelerated in September and October, surpassing 3 million ETH by October 13. Continued expansion in November brought the total to 3.5 million ETH by November 10.

As of December 15, BitMine leads the list of the largest publicly disclosed Ethereum investors, while Sharplink ranks second with 859,853 ETH.

### Unrealized losses of $3 billion do not alter long-term vision

Despite holding a massive amount of ETH, BitMine currently faces unrealized losses of about $3 billion, as most tokens were purchased at higher prices than the current levels. However, the leadership affirms that short-term fluctuations do not affect long-term prospects.

Thomas Lee remains publicly optimistic, forecasting Ethereum could reach $7,000 by early 2026. He believes Ethereum’s expanding role in global finance, along with increasing organizational adoption, will drive significant price growth in the near future.

Currently, ETH is trading at $3.11K, down 3.30% in the past 24 hours, with a 24-hour trading volume of $559.85M. Despite the correction, BitMine’s long-term strategy remains unchanged.